Cardano Price: Bullish Movement in Progress

Buyers are gradually taken over

ADA Price Analysis – 29 October

 As buying momentum increases and more bulls than bears entered the market, The value of Cardano increased to roughly $0.351. Buyers are holding the bullish engulfing candle that appeared when the currency crossed back over the predetermined level. At the moment, the price is around $0.351.

Key Levels:

Resistance levels: $0.351, $0.366, $0.402

Support levels: $0.331, $0.302, $0.279

ADA/USD Long-term Trend: Bearish

The daily chart for Cardano shows a downward trend. On September 27, the chart showed a double top formation near the resistance level of $0.402. The price tested the previously specified resistance level after first encountering resistance at the expected first level of $0.402. But once again, the price was coming down. A bearish candle pattern was displayed on the daily chart. Bearish candles have been seen for the past one month, and the support level at $0.331 was sharterred. The price is currently pulling back towards $0.351 levels.

The Cardano market appears to be firmly under the bears’ control. Given that Cardano is declining more quickly than the Hull Suite forex signals indicator, bears are currently controlling the market. Buyers may attempt to test the resistance levels at $0.366 and $0.402 if they are able to keep the price above the $0.351 barrier. If the $0.331 barrier is overcome, the support levels of $0.302 and $0.279 will be taken into account.

ADA/USD Medium-term Trend: Bullish

Cardano’s 4-hour chart indicates an inclining trend. In the past three weeks, it has attempted twice without success to overcome the resistance level shown by the $0.351 4-hour chart. As buying momentum increases and more bulls than bears entered the market, ADA’s value increased to roughly $0.351. Buyers are holding the bullish engulfing candle that appeared when the currency crossed back over the predetermined level. At the moment, the price is around $0.351.

With the best forex signal source, the QQE MOD indicator, displaying a buying signal and currently above the zero line, and Cardano’s price currently above the Hull Suite Crypto indicators, a buying market may be underway.

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