ADA/USD Price: Further Increase of Bulls’ Momentum May Breakup $0.17 Level 

Azeez Mustapha
24 November 2020 | Updated: 24 November 2020
 ADA Price Analysis – November 24

 When the price breaks up the $0.17 level upside, then, $0.19 and $0.21 levels will be the next target. In case the resistance level of $0.17 is defended by the bears, there could be a price reversal which may lead to price declination towards support levels of $0.15, $0.13, and $0.11.  

  ADA/USD Market
 Key Levels:

 Resistance levels: $0.17, $0.19, $0.21

Support levels: $0.15, $0.13, $0.11

 ADA/USD Long-term Trend: Bullish

 The bulls could not withstand a long time consolidation of Cardano price within the former resistance level of $0.11 and support level of $0.10 that took place a few days ago in the ADA market. There is a bullish breakout at the $0.11 price level and the price is soaring higher towards the resistance level of $0.17. The former resistance level of $0.13 and $0.15 has turned to a support level after the coin penetrates the level upside.  

ADAUSD Daily chart, November 24

The 9 periods EMA that was interlocked to the 21 periods EMA before has crossed its upside and the price is trading above the two EMAs at a distance which connotes strong bullish momentum. The price is currently targeting the $0.17 resistance level, if the price can break the just mentioned level upside, then, $0.19 and $0.21 levels will be the next target. In case the resistance level of $0.17 is defended by the bears, there could be a price reversal which may lead to price declination towards support levels of $0.15, $0.13, and $0.11.   

 ADA/USD Medium-term Trend: Bullish

 ADA/USD is bullish on the 4-hour chart. The price increases to $0.13 after the breakout at the $0.11, it pulls back and breaks up the $0.13 level. It increases to $0.15; pulls back and breaks it up. The price is currently moving towards the resistance level of $0.17. Further increase in the bulls’ momentum may break up the $0.17 level. 

ADAUSD 4-hour chart, November 24

Cardano is trading far above the 9 periods EMA and 21 periods EMA which indicates strong bullish momentum and that the bulls are dominating the market. The Relative Strength Index period 14 with its signal line strongly pointing up at 80 levels connotes further price increase. 

 

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
Share with other traders!
Azeez Mustapha

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.