- Cardano price fell to a low of 1$ and has revived 35% since
- ADA price Price has formed an ascending triangle formation
- ADA price must break the 100MA to continue revival
Cardano has fixed its spot in the top 10 cryptocurrencies for some time now. The ETH-like nature of ADA has many investors wondering if it may be a better option than ETH once all the network is live and running with features that are more scalable and cost effective than its competitor Ethereum. As of now, ADA is holding strong above its previous ATH set in 2018.
ADA price has formed an ascending triangle (green) the last 10 days. This pattern is generally bullish once price breaks above the top horizontal line. This resistance area is right around $1.40. Once ADA price manages to break and hold this mark, we can expect a push to high $1.40s.
ADA Price Analysis: 4 Hour Chart
In a bullish view, Cardano has recently broke & confirmed a trend line that has been holding the price down for nearly 45 days. Bulls have yet to clear the 100MA which has been acting as resistance for the past 3 weeks. Once price can clear and hold this MA, along with the $1.40 resistance, ADA will be free for further revival. In the case that bears take control, support can be found at $1.30 & $1.26.
While viewing the Stochastic RSI, we can conclude there is much hesitation to both sides as price nears the end of its ascending triangle. A break above the 80 value will surely send ADA past the $1.40 mark. The regular RSI shows a similar story as it’s been ranging above and below the 50 mark. A break below the 50 value will likely end in a retracement to lower supports under $1.30.
ADA intraday levels
- Spot rate: $1.34
- Trend: Neutral
- Volatility: Medium
- Support: $1.30
- Resistance: $1.40
- OpenSea’s Meteoric Rise May Trigger An Ethereum Crash, Here’s Why
- Breaking: JPMorgan Closes Uniswap (UNI) Founder’s Accounts
- UBS Warns Of Apocalyptic Crypto Winter And The Cryptocurrency Prices Are Poised To Crash
- SOL Tanks 6% As Solana Faces Another 48 Hour Outage, Boom and Bust Moment for Solana?
- Fantom (FTM) Surpasses Avalanche and Solana as DeFi TVL Crosses $12 Billion
- Buy The Dip Survey Shows 61% Of Chinese Bitcoin Investors Still Willing To Bet On Bitcoin
- Mike Novogratz Bets To Pay Peter Schiff $1 M If Bitcoin Price Stays Below $35,000 After 2022
- “At Some Point There’ll Be A Flash Crash” Says Gold Bull Peter Schiff
- Binance And FTX Worst Hit Exchanges As Losses Climb Almost Two Billion Combined
- Bitcoin S2F Founder says Current dip cannot stop Bitcoin from Adding Another Zero
- Solana Creeps Higher, Looks To Revisit January Highs AT $177.0
- Ethereum Price Analysis: Fibonacci Retracement level 0.618 Triggers Recovery Rally In ETH Coin
- BTC Price Analysis: Death Crossover Brings Nightmares On Satoshi Street; Is This A Buying Opportunity?
- Bitcoin Death Cross Haunting Investors, Will BTC Make or Break?
- DOGE Price Analysis: Highly Influential Bearish Trendline Undermines Bullish Attempts; Buy, Sell Or Hold?
- Terra Price Analysis: Will LUNA Price Bounce Back at 0.382 Fibonacci Retracement?
- SAND Price Analysis: Sandbox Price Losses 50% Retracement Level, Good Time to Buy?
- LINK Price Analysis: Chainlink price reclaims 200-day EMA, Emerging trendline Suggests More Upward Price Movement
- Harmony Price Analysis: Rising Parallel Pattern Could Lead 30% Growth In $ONE Price
- Ripple Price Analysis: XRP Bears Struggle To Breach $0.7 Support Zone, Is A Reversal Next Move?