Cardano Price: Bullish Trend Commences at $24 Level Targeting $0.33 Level
Login

Cardano Price: Bullish Trend Commences at $24 Level Targeting $0.33 Level

Estimated Reading Time: 3 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:

Bulls are dominating Cardano market

ADA Price Analysis – 10 January

In case the resistance level of $0.33 fails to hold, buyers may gain more impetus, and Cardano may increase to $0.34 and $0.37. The price may decrease to the $0.31, $0.29, and $0.26 resistance levels if sellers maintain their position at the $0.33 resistance level.

ADA/USD Market

Key Levels:

Resistance levels: $0.33, $0.34, $0.37

Support levels: $0.31, $0.29, $0.26

ADA/USD Long-term Trend: Bullish

Cardano’s daily chart shows a bullish trend. The Crypto found support at the $0.23 level after many weeks of bearish movement. The sellers’ momentum became weak and could not push the price below the $0.24 level. Purchasers gained momentum and strong bullish candles were produced. The price increased and broke up the former resistance levels of $0.26, $0.29, and $0.31. At the moment, the price is targeting the resistance level of $0.33.

Cardano is trading above the dynamic support levels at distance and is heading in the direction of the 9-period EMA and 21-period EMA, which is a positive activity. In case the resistance level of $0.33 fails to hold, buyers may gain more impetus, and the price may increase to $0.34 and $0.37. The price may decrease to the $0.31, $0.29, and $0.26 resistance levels if sellers maintain their position at the $0.33 resistance level. The signal line on the Relative Strength Index period 14 is pointing upward and is at 72 levels indicating a strong buy signal.

ADA/USD Medium-term Trend: Bullish

Cardano is on a bullish movement on the 4-hour chart. The sellers’ momentum increased two weeks ago and the low of $0.23 support level has been tested twice. The price bounced up from the mentioned level and increased toward the north. The resistance level of $0.34 was tested and it pulled back to retest the support level of $0.31. Bulls are gradually returning to the market with increased momentum.

The price of Cardano is trading above both the 9-period and 21-period EMAs, with the fact that the fast EMA has crossed the slow EMA upside. The relative Strength Index Period 14 is at 74 levels, and the signal line heading upward denotes a buy signal.

You can purchase Lucky Block here. Buy LBLOCK

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
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.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News