Cardano Price: Bullish Trend May Continue After a Pullback

Bulls may return in full force

ADA Price Analysis –29 July

 Cardano can attempt testing the resistance potential of $0.98 and $1.14 if they can keep the price above the $0.80 hedge. If the $0.71 hedge is translated, the $0.69 and $0.59 support options will be taken into account.

Key Levels:

Resistance levels: $0.80, $0.98, $1.14

Support levels: $0.71, $0.69, $0.59

ADA/USD Long-term Trend: Bullish

Cardano’s daily time period exhibits an upward trend. The chart displayed a double bottom formation near the $0.59 support level on June 24. The price tried to break through the first hedging position before finding support close to the expected $0.59 level. However, the coin gets past the first anticipated obstacle. A bullish candle pattern was displayed on the daily map. Analysis of the $0.69 hedging position revealed bullish wicks. There has been a constructive effort since June. The price is currently making an effort to move higher from its $0.80 level.

The Cardano request seems to be firmly in the bulls’ grasp. Due to Cardano’s rapid ascent over the Hull Suite forex signals indicator, buyers are getting what they want. Cardano can attempt testing the resistance potential of $0.98 and $1.14 if they can keep the price above the $0.80 hedge. If the $0.71 hedge is translated, the $0.69 and $0.59 support options will be taken into account.

ADA/USD Medium-term Trend: Bullish

An inclinational trend can be seen in Cardano’s 4-hour chart. Two failed attempts to breach the 4-hour time frame’s support level at $0.59 have occurred in recent weeks. The ADA’s value fell to $0.0.59 as more bears than bulls filed petitions and copping instigation rose. As the currency got closer to the $0.80 mark, a bullish engulfing candle formed, showing that buyers are controlling the market.

The QQE MOD index, a reliable source of forex indicators, is above the zero line and displaying a positive signal, while Cardano is presently trading above and close to the Hull Suite Crypto points.

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