Cardano Price: Bulls Have a Firm Hold on Cardano Market

Price may retest  $0.824 level

ADA Price Analysis – 19 November

Buyers can attempt to test the resistance levels at $0.676 and $0.706 if they can keep the price above the $0.626 barrier. If the $0.577 barrier is overcome, the support levels of $0.511 and $0.488 will be taken into account.

Key Levels:

Resistance levels: $0.767, $0.824, $0.924

Support levels: $0.677, $0.626, $0.577

ADA/USD Long-term Trend: Bullish

Cardano’s daily chart indicates an increasing trend. The chart displayed a double bottom formation on September 27th, close to the $0.577 support level. After initially running into resistance at the anticipated first level of $0.626, the price challenged the previously determined resistance level. However, the cost increased once more. The daily chart showed a bullish candle pattern. After testing the $0.677 resistance level, bullish candles began to form. Since November 6, there has been bullish action. The price is now getting close to the resistance level of $0.767 level.

 

The bulls seem to have a firm hold on the Cardano market. Bulls are currently in control of the market since Cardano is inclining faster than the Hull Suite forex signals indicator. If buyers are able to hold the price above the $0.767 barrier, they might try testing the resistance levels at $0.824 and $0.924. The support levels of $0.626 and $0.577 will be considered if the $0.677 barrier is broken.

ADA/USD Medium-term Trend: Bullish

The 4-hour chart for Cardano shows an upward trend. It has made two unsuccessful attempts in the last few weeks to break below the support level indicated by the $0.577 4-hour chart. ADA’s value rose to about $0.626 as purchasing momentum intensified and more bulls than bears entered the market. The bullish engulfing candle that emerged as the currency crossed back over the predefined level is being held by buyers. At the moment, the price is roughly $0.767.

Considering that the best forex signal source, the QQE MOD indicator, is above the zero line and exhibiting a buying signal, and that Cardano’s price is currently above the Hull Suite Crypto indicators.

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