Cardano Price Analysis: ADA/USD Recovery Could Be Capped Near $0.092

2018-9-7 11:00

Key Highlights ADA price declined recently and broke the $0.1000 and $0.0920 support levels against the US Dollar (tethered). A recovery is under way inside an ascending channel with resistance at $0.0915 on the hourly chart of the ADA/USD pair (data feed via Bittrex). The pair could correct higher, but it may face sellers near $0.0920 or $0.0940 in the near term.

Cardano price faced a solid selling interest recently against the US Dollar and Bitcoin. ADA/USD is correcting higher, but it could face many hurdles near $0.092.

Cardano Price Analysis

Recently, cardano price failed to break the $0.1080 resistance against the US Dollar. As a result, the ADA/USD pair declined sharply and broke the $0.1000 support. There was also a break and close below the $0.0920 support and the 100 hourly simple moving average. The price traded close to the $0.0800 level and formed a new monthly low at $0.0808.

Later, the price started an upside correction and moved above the $0.0840 level. It also traded above the 23.6% Fibonacci retracement level of the recent slide from the $0.1073 high to $0.0808 low. At the moment, there is an ascending channel in place with resistance at $0.0915 on the hourly chart of the ADA/USD pair. The pair could continue to move higher, but it may face sellers near $0.0918 resistance (the previous support). Above this, the next resistance is the 50% Fibonacci retracement level of the recent slide from the $0.1073 high to $0.0808 low at $0.0941. Therefore, if the price continues to move higher, it could face sellers near $0.0920 or $0.0940.

The chart indicates that ADA price is clearly back in a bearish zone below $0.1000. Once the current correction is complete, it may well slide back towards the $0.0800 level in the near term.

Hourly MACD – The MACD for ADA/USD is placed slightly in the bullish zone.

Hourly RSI – The RSI for ADA/USD is currently above the 50 level.

Major Support Level – $0.0840

Major Resistance Level – $0.0940

The post Cardano Price Analysis: ADA/USD Recovery Could Be Capped Near $0.092 appeared first on NewsBTC.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Cardano (ADA) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0.576
Капитализация $0 Rank 99999
Цена в час новости $ 0.070029 (-100%)

ada could price recovery near usd cardano

ada could → Результатов: 29


Фото:

Cardano Whales Start 2023 With Accumulation Trend That Could Be Bullish For ADA

Cardano (ADA) has seen some pretty tragic price action in the last couple of months, which has dragged its price down toward two-year lows. It still continues to maintain this downtrend and is barely moving, just like the rest of the crypto market, but some developments among large ADA investors could see some bullish momentum for the digital asset.

2023-1-7 02:00