ADA Price Analysis – September 20
In case the buyers interrupt the sellers, and the daily candle close above $0.47 level, Cardano may increase to $0.50 and $0.54 levels. Should sellers exert more pressure, ADA may decrease to break down $0.41, the next support levels can be found at $0.38, and $0.25 levels.
ADA/USD Market
Key Levels:
Resistance levels: $0.47, $0.50, $0.54
Support levels: $0.41, $0.38, $0.25
ADA/USD Long-term Trend: Bearish
Cardano is bearish on the daily chart. The currency pair continue its trading within the descending channel formed on the daily chart which is an indication of bearish signal. Cardano tested the support level of $0.50. The price bounces off the level when it could not break it up. The support level of $0.47 has been broken downside. At the moment, the price is facing the support level of $0.41.
ADA retains trading below the two dynamic resistance levels of 9 periods EMA and 21 periods EMA at distance indicating bearish momentum. In case the buyers interrupt the sellers, and the daily candle close above $0.47 level, Cardano may increase to $0.50 and $0.54 levels. Should sellers exert more pressure, ADA may decrease to break down $0.41, the next support levels can be found at $0.38, and $0.25 levels. The technical indicator Relative Strength Index is at 42 levels with the signal line pointing downside which indicates a bearish signal.
ADA/USD Medium-term Trend: Bearish
Cardano is bearish on 4-hour chart. Sellers opposed the bullish movement when the Crypto was heading towards the resistance level of $0.50. Strong sellers’ pressure is noticed on the 4-hour chart with the formation of big bearish candle which decline the price below $0.47 support level. Cardano price may reduce to $0.41 level.
The 9 periods EMA crossed the 21 periods EMA downside indicating that bears are dominating Cardano market. The relative strength index period 14 is pointing downside at 37 levels indicating sell signal.
You can purchase crypto coins 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
- 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
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus
