Cardano Price: Bulls Overpower Bears at $1.15 Level

Price may continue a bullish trend

ADA Price Analysis – 03 December

 If Cardano can maintain the price above the $1.32 barrier, they might try testing the resistance levels around $1.40 and $1.48. The support levels of $1.15 and $0.76 will be considered if the $1.22 barrier is broken.

Key Levels:

Resistance levels: $1.32, $1.40, $1.48

Support levels: $1.22, $1.15, $0.76

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. Before making an effort to overcome the previously set resistance level, the price first ran into resistance at the anticipated first level of $1.15. However, the cost increased once more. A bullish candle pattern was displayed on the daily chart. After probing the resistance level of $1.15, bullish candles emerged. Since November 6, there has been bullish activity. The price is currently testing $1.32 level after broke up $1.22 barrier level.

The bulls seem to have a firm hold on the Cardano market. The market is currently dominated by bulls because Cardano is inclining faster than the Hull Suite forex signals indicator. If Cardano can maintain the price above the $1.32 barrier, they might try testing the resistance levels around $1.40 and $1.48. The support levels of $1.15 and $0.76 will be considered if the $1.22 barrier is broken.

ADA/USD Medium-term Trend: Bullish

The 4-hour chart for Cardano shows an upward trend. Two unsuccessful attempts to break below the support level of the $0.76 4-hour chart have occurred in recent weeks. ADA’s value rose to about $1.15 as purchasing momentum grew and more bulls than bears entered the market. The bullish engulfing candle that formed when the currency retreated towards the predefined level indicates that buyers are defending the just mentioned level. The current price is approximately $1.32 level.

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

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