ADA price prints the gain for the second session in a row. However, trades in a very tight range with capped upside and downside limits.
- ADA price edges higher as the fresh trading week begins.
- More gains towards $1.40 if the price closes above the 200-day EMA.
- The downside is capped near the $1.10 vital support level.
ADA price continues to move north
ADA price continues to trade in a short-term range of $1.10 and $1.25. The asset is expected to print gains as the volumes supported the current price action. As the price moved beyond the 50-day EMA (Exponential Moving Average) on March 23 with above an average volume. However, the price consolidates since then with declining volumes.
Now, a daily close above the $1.25 level will fuel the further upside rally in the prices. The bulls will face the first upside hurdle at the critical 200-day EMA (Exponential Moving Average) at $1.29. An acceptance above this level will produce an ultimate target of $1.40.
On the flip side, if the price slips below the session’s low then it would continue to move in a sideways manner. Further, the bulls would lose hope if the price breaks the vital support around $1.10.
In this case, the selling could intensify toward the 50-day EMA at $1.03.
Trending Stories
As of publication time, ADA/USD is trading at $1.21, up 2.56% for the day. The 24-hour trading volume of the seventh-largest cryptocurrency is standing at $1,717,138,700 with more than 55% gains. A rise in the price along with volumes is a bullish sign for the asset.
Technical indicators:
RSI: The daily Relative Strength Index oscillates near the average line. The current reading is at 65 which indicates the market is still far from overheating.
MACD: The Moving Average Convergence Divergence convergence shows convergence in both averages. Investors should wait for a clear indication before making any decision.
- Crypto Proponent Outlines Catalysts For Bitcoin’s Next Bull Run, Time To Buy?
- Terra’s UST Causes A 20% Dump In DeFi Token Curve (CRV), Here’s How
- Can Tron Fill The Hole In DeFi Left By Terra?
- Terra Crash Causes Ripple Effect Among Crypto Startups, Here’s How
- Bitcoin (BTC) To Slip Further Below $29K Today, Where’s The Bottom?
- LUNA, UST Volatility Spikes As Voting On Terra Fork Begins
- Panama Delays Legalizing Crypto On This Major Factor
- Big Investors in Terra LUNA Finally Break Silence, Here’s What They Have to Say
- Bitcoin (BTC) Tanks Under $29,000 After A Classic Bull Trap, Still More Pain Left?
- Just In: Russia Minister Hints At Bitcoin Payments Nod
- KuCoin Price Analysis: Low Volume Rally Hints Pullback Opportunity in KCS
- Polkadot Price Analysis: Bull Trap May Drag DOT Price To $7.3 Mark
- APE Price Analysis: Triangle Breakout Eyes 55% Rise in APE
- Ripple Price Analysis: XRP Price Remains Pressured Below $0.45
- EGLD Price Analysis: Decreasing Volume Hints EGLD to Reverse from $75
- Cardano Price Analysis: ADA Price Prepares For 22% Jump; Are You Holding?
- Bitcoin Price Analysis: BTC Price Holds Above $30,000; Opportunity To Buy?
- Ethereum Price Analysis: ETH Price Erases Recovery Gains Towards $2,000
- Decentraland Price Analysis: MANA Price Sinks 10%; Are You Still Holding?
- Bitcoin Price Analysis: BTC Price Under Bear’s Spell; Is $26,000 On Cards Again?
