Cardano Price Analysis: ADA Token Surges 25% in a Week


  • The price trend of the Cardano token is in an uptrend of 2.3% during the intraday session
  • ADA/BTC pair is trading negative by 4.8% at 0.00003236 BTC
  • The 24-hour trading volume in Cardano is $1.980 Billion

The daily technical chart of the Cardano token display price is testing the 50-EMA. According to pivot points (FIB), the crucial support level is $1.08. Though, if it makes a move higher, the fundamental resistance level is $1.42. Meanwhile, the chart shows a hammer candlestick pattern, which indicates a positive trend with medium reliability.

The exponential moving average (EMA) composed of 20,50,200-EMA can be a reliable support for currency price changes. However, investors can observe the price shows stability above the EMA-200, ensuring an uptrend until the price stays above the EMA-200.

The volume of (881.246K) is beneath the MA of 20-days (1.441M). Buying pressure is moderate in Cardano token, making its price remain near resistance zones. Investors may also observe diminishing volume bars in the chart, which indicates a big move is expected in upcoming trading sessions. 

The CCI indicator gave a (bullish) signal with 63.82, projecting a buy signal in the coin. Investors may observe an inlining slope from -87 to 63. It may surge in future trading sessions.

Cardano (ADA) Token Requires High Volume to Break above 50-EMA 

Cardano token price is at $1.31, with a daily gain of 2.3% and a weekly gain of 24%. In addition, the price is testing the 50-EMA. The CCI indicator shows a buy signal, and the traders have guided moderate buying pressure. Technically, the price is showing major signs of positivity, and soon 50-EMA is gonna be broken, which will lead prices to rise further. Therefore, as with overall market sentiment, the trend remains bullish.

Resistance: $1.42

Support: $1.08

Source link


Please enter your comment!
Please enter your name here