Mar 27, 2024, 10:03 am Prices are a little higher than usual.
Cardano’s (ADA) price is fluctuating in a range that falls below moving averages. ADA Price Analysis by Coinidol.com.
Long-term forecast for Cardano price: bearish
After reaching a bottom of $0.40, the negative trend stopped at the $0.43 support level. Cardano The price of ADA is currently trading below the resistance level or moving average line at $0.51, but above the $0.43 support. Moving average lines currently hold back the price of ADA as it hovers just above the $0.46 level.
If the bears breach the current support level, the ADA will retest its previous low price of $0.40. The range bound movement will still continue as long as the $0.43 support holds.
Cardano Indicators: Analysis
The ADA bars are now below the moving-average lines and suggest that cryptocurrency prices will drop. Now, the 21-day SMA has halted rising gains. Doji candlesticks on the 4-hour graph have caused the altcoins to consolidate over the $0.46 resistance. This consolidation may lead to either a dip in price or a breakout.
Tech indicators
Key resistance zones: $0.80, $0.85, $0.90
Key support zones: $0.50, $0.45, $0.40
What’s the next step for Cardano cryptocurrency?
Cardano’s downtrend has ended and it is trading within a range. The cryptocurrency trades above $0.43, but below $0.52 on the chart. Cardano has been pushed down from its previous high, and it is now stabilizing over the $0.46 support. Due to the doji candles, price has been stationary.
Disclaimer. The opinions expressed in this analysis are those of the author. They are not intended to be taken as a recommendation by CoinIdol.com. Before investing, readers should research the funds they are interested in.