ADA Price Analysis – September 07
In case Price reverse at $3.0 level, bearish movement may start towards the support levels at $2.6, $2.3 and $1.8. The breakout at the resistance level of $3.0 may lead to the continuation of bullish trend towards the $3.3 and $3.7 levels.
ADA/USD Market
Key Levels:
Resistance levels: $3.0, $3.3, $3.7
Support levels: $2.6, $2.3, $1.8
ADA/USD Long-term Trend: Ranging
On the daily chart, ADA/USD is ranging. The bulls successfully pushed the coin to the significant resistance level of $3.0 on 27 August with the formation of strong daily bullish candle. The price pulled back to retest the support level of $2.6. Both the mentioned resistance and support levels hold the price and the coin commences a ranging movement within the levels. This movement may continue until there is a breakout.
Cardano is trading above the 9 periods EMA and the 21 periods EMA at close contact and the two EMAs are separated from each other as an indication of weak bullish pressure. In case Price reverse at $3.0 level, bearish movement may start towards the support levels at $2.6, $2.3 and $1.8. The breakout at the resistance level of $3.0 may lead to the continuation of bullish trend towards the $3.3 and $3.7 levels. The technical indicator Relative Strength Indicator is at 60 levels with the signal line pointing downside which indicate sell signal.
ADA/USD Medium-term Trend: Ranging
Cardano is on the ranging movement on the 4-hour chart. The crypto is range-bound within the resistance level of $3.0 and support level of $2.6. The coin tested the resistance level of $3.0 thrice. The bulls’ pressure became weak, also the bears’ pressure is not strong enough to break down the support level of $2.6.
The price is hovering around the 9 periods EMA and 21 periods EMA as a sign of consolidation movement. The relative strength index period 14 is at 40 levels and the signal line exhibiting sell signal.
You can purchase crypto coins here. Buy Tokens
- Broker
- Min Deposit
- Score
- Visit Broker
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Over 100 different financial products
- Invest from as little as $10
- Same-day withdrawal is possible
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus
Learn to Trade
Never Miss A Trade Again
Signal Notification
Real-time signal notifications whenever a signal is opened, closes or Updated
Get Alerts
Immediate alerts to your email and mobile phone.
Entry Price Levels
Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.