Business

ADA/USD bullish for the next 24 hours

TL;DR breakdown

  • Cardano price analysis is bullish.
  • Resistance for ADA/USD stands at $0.995.
  • The ADA/USD pair is currently trading at $0.926.

The ADA/USD pair has been range-trading for the past few days with resistance at $0.995 and support at $0.894. The price analysis is bullish and ADA is now testing the resistance at $0.995. If the bulls can break above this barrier, the price of ADA is likely to surge even higher. If the bears regain control, the ADA/USD pair could drop to support at $0.894.

ADA/USD 1-day price chart: bulls in control as prices test a key resistance level

The bulls are controlling the ADA/USD pair as it tests the resistance at $0.995. The price has been range-trading for the past few days with support at $0.894 and resistance at $0.995. A break above resistance could see prices surge higher, while a break below support could see prices drop to $0.894.

SINCE THE BEGINNING OF FEBRUARY, the ADA/USD pair has been range-trading with support at $0.894 and resistance at $0.995. The bulls are currently attempting to breach the resistance, but to do so they must overcome significant selling pressure. If the bulls succeed, the price of ADA is likely to surge higher with a potential target of $1.15.

On the other hand, if the bears regain control and manage to break below the support, the price of ADA could drop to $0.894. This would be a clear reversal and it is possible that the ADA/USD pair could continue falling in the future.

The ADA/USD pair has formed a bullish divergence on the 4-hour chart, indicating that the bulls are gaining strength. A break above the resistance could see prices rally to $1.15, while a break below the support could see prices fall to $0.894. The primary trend is bullish hence the bulls are likely to eventually clear the resistance level and propel prices higher.

Cardano price analysis: ADA/USD bullish for the next 24 hours 1
ADA/USD 1-day price chart. Source: TradingView

The Bollinger Bands are also expanding, showing that volatility is increasing. This could soon lead to further price movements. The next significant resistance for ADA/USD is $0.995 and if the bulls can scale above this level, the price is likely to make fresh highs. If the bears sink the price below the $0.894 support, the price could fall further.

The weekly chart shows ADA trading near the resistance at $0.995. The bulls are attempting to break this level and if successful, it could lead to a significant uptrend. The RSI is in the bullish territory and the MACD is also showing a bullish crossover. The Bollinger Bands are expanding, which indicates that the market is very volatile.

Cardano Price Analysis: Current Development

The 4-hours price chart shows that ADA is currently testing the major resistance at $0.995. For the past few days, the price has been trading in a range with support at $0.894 and resistance at $0.995. The RSI is in the bullish territory and the MACD is also showing a bullish crossover. If the bulls can clear this resistance, the price is likely to make new highs.

Cardano price analysis: ADA/USD bullish for the next 24 hours 2
ADA/USD 4 hour price chart. Source: TradingView

The 4-hours price chart shows that ADA is currently testing a significant resistance at $0.995. For the past few days, the price has been trading in a range with support at $0.894 and resistance at $0.995.

Conclusion of the Cardano price analysis

Cardano price analysis is forming on the 4-hour chart, which suggests the bulls are gaining strength. A break above the $0.995 resistance could see prices make new highs, while a break below the $0.894 support could see prices drop to $0.894. The primary trend is bullish, hence the Directional Movement Index is likely showing that the bulls are in control of the market.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

https://www.cryptopolitan.com/cardano-price-analysis-2022-03-03/ ADA/USD bullish for the next 24 hours

Songdep

Inter Reviewed is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – admin@interreviewed.com. The content will be deleted within 24 hours.

Related Articles

Back to top button