Buyers are dominating Cardano market
ADA Price Analysis – 14 March
When buyers are successful in holding the $0.35 support level, Cardano may rise above $0.37, $0.38, and $0.41 levels. In case the support level of $0.35 is broken downward, at which time $0.33 and $0.31 may be tested.
ADA/USD Market
Key Levels:
Resistance levels: $0.37, $0.38, $0.41
Support levels: $0.35, $0.33, $0.31
ADA/USD Long-term Trend: Bullish
Cardano is bullish on the Long-term outlook. More than three weeks ago, sellers ruled the market. It decline and leveled off at $0.31. As a bullish engulfing candle forms, the buyers gain the upper hand over the sellers. The upside resistance levels of $0.31, $0.33, and $0.35 are penetrated by ADA as it inclines. The $0.31 support level was tested, but the buyers resisted the action immediately. The cryptocurrency is inclining at the moment exposed to $0.37 level.
Cardano is trading above the two dynamic support levels, falling in line with the two exponential moving averages (EMAs), and the 9-period EMA has crossed the 21-period EMA, all of which point to active buyers. When buyers are successful in holding the $0.35 support level, the price could rise above $0.37, $0.38, and $0.41 levels. In case the support level of $0.35 is broken downward, at which time $0.33 and $0.31 may be tested. However, buyers may grow more enthused. The Relative Strength Index period 14 signal line is heading higher at a level of 55, indicating a buy signal.
ADA/USD Medium-term Trend: Bullish.
On the 4-hour chart, Cardano is moving in a bullish way. The market fell below the $0.33 level as the momentum of the bears appear to be stronger than that of the bulls a few weeks ago. It eventually found support at the $0.31 level. Bulls swim into action and the price increases. After surmounting the $0.33 and $0.35 resistance levels to the upside, the price is heading toward $0.37 resistance level.
The price of Cardano is trading above the 9-period and 21-period EMAs, with the two EMAs distance from each other. The relative Strength Index Period 14 is at 72 levels, the signal line displaying bullish direction.
You can purchase Lucky Block here. Buy LBLOCK
- Broker
- Min Deposit
- Score
- Visit Broker
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Award-winning Cryptocurrency trading platform
- 14 Cryptoassets available to invest in
- FCA & Cysec regulated
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
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus
