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Cardano Price Analysis: ADA Price Heads Up $0.971 As Bulls Lead the Market

TL analysis; DR

  • Cardano price analysis is bullish.
  • The current ADA/USD resistance is at $0.995.
  • Support for ADA now sits at $0.894.

The latest Cardano price analysis shows that the price is covering an upward range once again as the bulls continue to mark their presence on the price chart. The price has risen to $0.971 in the last 24 hours and further improvement is expected. The price movement has been erratic over the past week, but since two days ago, the bulls have dominated the market, and today, the bulls continue to maintain the lead. The improvement seen in the last three days is of great importance as such a recovery has been observed after such a long time.

1-day ADA/USD Price Chart: Further upside is noted as bulls attempt to take the lead

The bulls are attempting to make a lasting impact and have taken the price to $0.971 today, according to Cardano 1-day price analysis. The uptrend is strengthening continuously and today the price is up again. Price swings are likely to continue to escalate next week as volatility is already at a high level. The moving average (MA) in the one-day price chart shows its value at $0.905 below the price.

Cardano Price Analysis: ADA Price Heads for $0.971 as Bulls Lead the Market 1
ADA/USD 1-day price chart. Source: TradingView

Volatility has been at a high for the past 24 hours, meaning that the bullish cycle could continue in the coming days. Other important indicators include the Bollinger Bands indicator, whose upper value settled at $1,134, representing resistance for ADA, and lower value at $0.802, representing support for ADA / USD. The Relative Strength Index (RSI) score shows a neutral reading of 47.

Cardano Price Analysis: Recent Developments and Other Technical Indicators

The 4-Hour Price Chart for Cardano price analysis shows the price continuously rising once again after the bulls attempted to hold the base on the Candlestick Chart. The short-term trend line in the 4-hour price chart is also moving up, indicating that an uptrend is following. Further gains are expected in the coming hours as the price could move higher than the current levels i.e. $0.972. The moving average is in a relatively lower position as it is sitting at $0.965.

Cardano Price Analysis: ADA Price Heads for $0.971 as Bulls Lead the Market 2
ADA/USD 4-hour price chart. Source: TradingView

The 20 SMA is trading above the 50 SMA, confirming the uptrend. Volatility has increased significantly and currently the upper Bollinger band value is at $1,010 while the lower band is at $0.834. The RSI is also hovering at 62 in the upper half of the neutral zone.

Cardano price analysis conclusion

The price has improved further in the last 24 hours as it was confirmed from 1-day and 4-hour Cardano price analysis. The bulls are struggling to maintain their upper position on the price chart and have taken the price to $0.971. The coin’s value will most likely increase further in the coming hours, as the hourly prediction is also favoring the bulls.

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-2022-03-02/ Cardano Price Analysis: ADA Price Heads Up $0.971 As Bulls Lead the Market

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