Cardano Price: Buyers Are Gaining Momentum

Sellers’ pressure is reducing in Cardano market

ADA Price Analysis – 11 February

Cardano may attempt testing the resistance scenarios of $0.94 and $1.05 if they are able to keep the price above the $0.83 hedge. If the $0.76 hedge is translated, the $0.67 and $0.62 support possibilities will be taken into account.

Key Levels:

Resistance levels: $0.83, $0.94, $1.05

Support levels: $0.76, $0.67, $0.62

ADA/USD Long-term Trend: Bearish

The daily time period for Cardano shows a downward trend. On January 3, the chart showed a double top conformation close to the $1.14 resistance level. The price initially encountered support at the anticipated level of $0.94 after attempting to breach the first created hedging position. Nevertheless, the coin recovers from the initial expected barrier. The daily map showed a bearish candle pattern. Bearish candles emerged when the $0.94 hedge position was analyzed. Since January 3, there has been negative exertion. The price broke the $0.76 hedging position and is now pulling back heading toward the $0.83 position.

The Cardano request seems to be firmly in the bulls’ grasp. Since Cardano is inclining more quickly towards the Hull Suite forex signals index, merchandisers are currently attending to the request. Cardano may attempt testing the resistance scenarios of $0.94 and $1.05 if they are able to keep the price above the $0.83 hedge. If the $0.76 hedge is translated, the $0.67 and $0.62 support possibilities will be taken into account.

ADA/USD Medium-term Trend: Bullish

Cardano’s 4-hour chart indicates a tendency toward cloud cover. In recent weeks, there have been two unsuccessful efforts to break below the $0.67 4-hour time frame support point. As more bulls than bears filed petitions and copping instigation rose, the ADA’s value jumped to about $0.76. As the currency got closer to the target level, a bullish engulfing candle developed, indicating that buyers are holding onto their position. The price is currently inclining and getting close to $0.83.

The QQE MOD index, a well-known forex signal source, is above the zero line and suggesting a buying signal, and the price of Cardano is currently above the Hull Suite Crypto points.

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