Buyer’ pressure may increases in Cardano market
ADA Price Analysis – October 18
In case bulls exert more pressure, there may be a bullish reversal at the support level of $0.36 and Cardano may climb to $0.38, $0.40 and $0.41 levels. Should sellers gain more momentum, Cardano may decrease further by penetrate the support level of $0.36 downside, price may reduce to $0.34 and $0.32 levels.
ADA/USD Market
Key Levels:
Resistance levels: $0.38, $0.40, $0.41
Support levels: $0.36, $0.34, $0.32
ADA/USD Long-term Trend: Bearish
On the daily chart, Cardano is bearish. More pressure from Sellers continuously drifting the coin towards south. More daily strong bearish candle were produced. The price decreases accordingly. The former support levels of $0.41, $0.40 and $0.38 have turned to resistance levels. On October 13 the price found support at $0.34. The price is pulling back at the moment on daily time frame.
Cardano is trading below the two dynamic resistance levels of 9 periods EMA and 21 periods EMA at close which may also connote a bearish movement. In case bulls exert more pressure, there may be a bullish reversal at the support level of $0.36 and price may climb to $0.38, $0.40 and $0.41 levels. Should sellers gain more momentum, Cardano may decrease further by penetrate the support level of $0.36 downside, price may reduce to $0.34 and $0.32 levels. The Relative Strength Index period 14 is at 29 levels with the signal line pointing upside which indicate a buy signal.
ADA/USD Medium-term Trend: Bearish
Cardano is bearish on 4-hour chart. The coin obey the command from the bears and that reduces the price to the support level of $0.34. It pulled back and retest $0.38 level. The just mentioned resistance level holds and the price pulled back to commence consolidation within $0.38 and $0.36 levels. At the moment, bulls’ momentum is low, likewise, bears’ pressure.
The 9 periods EMA is close to the 21 periods EMA as an indication of low momentum. The relative strength index period 14 is pointing upside at 46 levels displaying no specific direction.
You can purchase Lucky Block here. Buy LBLOCK
- 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.