Cardano Making Attempts to Extend Upside Retracement

Azeez Mustapha

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Cardano’s price action has bounced off support at $0.3840 to continue its medium-term upside retracement. However, the current price level of this coin lies at the same level as the middle limit of the Bollinger Bands and the Fibonacci Retracement level of 23.60. Other indications from this market suggest that the mentioned level may be broken.

Cardano Analysis Data
ADA Value Now: $0.4097
ADA Market Cap: $14,176,539,388
Cardano Moving Supply: 34,799,728,438
Cardano Total Supply: 35,727,842,285
ADA CoinMarketCap Ranking: 7

Major Price Levels:
Top: $0.4097, $0.4100, and $0.4130
Base: $0.4060, $0.4020, and $0.3990

Cardano Making Attempts to Extend Upside Retracement

Cardano (ADA) Price Uptrend Resurges

On the Cardano daily market, it appears that price action has resumed an uptrend in a bid to extend profits. At this point, the last price candle on this chart is now at the point of breaking a technical resistance at the $0.4096 mark. Also, the Relative Strength Index (RSI) curves are now steadily ascending upward and towards the 40 level. In addition, the Bollinger Bands on this chart appear dilated and upwardly projected. Consequently, this supports higher price upside expectations in this market.

Cardano Making Attempts to Extend Upside Retracement

Cardano’s (ADA) Price Action Eyes the $0.4200 Mark

Price movements in the Cardano 4-hourly market continue to gain upside traction. The appearance of the last price candle on this chart suggests that price action may even rise further in the ongoing session. The wick of this price candle can be seen touching the uppermost limit of the Bollinger Bands indicator. Also, the RSI indicator has given another crossover above level 60 of the indicator. Therefore, more upside thrust is on the way, as the price may climb further towards $0.4200.

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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.

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