An increase in the bears’ pressure can decrease the price to $0.98 and $0.83 support level provided $1.11 level does not hold. Should the buyers gain enough momentum and the daily candle closes above $1.23 level, ADA/USD may increase to $1.31 and $1.46.
ADA/USD Market
Key Levels:
Resistance levels: $1.23, $1.31, $1.46
Support levels: $1.11, $0.98, $0.83
ADA/USD Long-term Trend: Bearish
Cardano is bearish on the daily chart. ADAUSD broke out of the ranging zone two weeks ago. It rallied towards north side and the bulls’ pressure was consistence. The price reached the high above $1.46 price level but the bulls’ momentum became weak and could not sustain the level. The bearish engulfing candle emerges and the this triggered the downtrend experienced in the Cardano market.
The price has penetrated the former support levels of $1.31 and $1.23 downside. It has reduced to $1.11 value. An increase in the bears’ pressure can decrease the price to $0.98 and $0.83 support level provided $1.11 level does not hold. Should the buyers gain enough momentum and the daily candle closes above $1.23 level, ADA/USD may increase to $1.31 and $1.46. The technical indicator Relative Strength Index period 14 is above 40 levels with the signal line pointing upside which indicates a bullish signal.
ADA/USD Medium-term Trend: bearish
Cardano is bearish in 4-hour chart. The crypto formed a double top chat pattern on the 4-hour chart last week at the resistance level of $1.46. The price obey the bearish command. ADA Falls to the support level at $1.11on April 18, it pulls back to retest the $1.31 level. ADA returned to test the support level of $1.11 second time to form a “double bottom” chart. This is a bullish reversal signal indicating the bulls may take over the Cardano market.
The two EMAs are separated from each other and the price is trading below the 9 periods EMA and 21 periods EMA at close contact while the relative strength index period 14 is at 40 levels and the signal line pointing up to indicate buy signal.
- Broker
- Min Deposit
- Score
- Visit Broker
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Over 100 different financial products
- Invest from as little as $10
- Same-day withdrawal is possible
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus
Learn to Trade
Never Miss A Trade Again
Signal Notification
Real-time signal notifications whenever a signal is opened, closes or Updated
Get Alerts
Immediate alerts to your email and mobile phone.
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.