Sellers’ momentum increases
ADA Price Analysis – 25 April
Price may climb past the $0.40, $0.41, and $0.44 levels if buyers are able to hold the $0.38 support level. The $0.35 and $0.33 levels will be tested next if the $0.38 support level is broken lower. Though perhaps customers will become more eager.
ADA/USD Market
Key Levels:
Resistance levels: $0.40, $0.41, $0.44
Support levels: $0.38. $0.35, $0.33
ADA/USD Long-term Trend: Bearish
Cardano is bearish on the Long-term outlook. The bulls were able to push the Crypto to a significant resistance level at $0.46 on 15 April. Sellers defended the just mentioned level with the formation of a bearish engulfing candle. More strong daily bearish candles were produced and the price declined. Former support levels of $0.44, $0.41 turned to the resistance level. Last week, the support level of $0.40 was penetrated and the price is struggling to break down the $0.38 level.
Cardano is trading below the 9-period EMA and the 21-period EMA. According to the two exponential moving averages (EMAs). Price may climb past the $0.40, $0.41, and $0.44 levels if buyers are able to hold the $0.38 support level. The $0.35 and $0.33 levels will be tested next if the $0.38 support level is broken lower. Though perhaps customers will become more eager. The Relative Strength Index period 14 signal line is pointing downward at a level of 43, indicating a sell.
ADA/USD Medium-term Trend: Bearish
On the 4-hour chart, Cardano is trending downward. A few weeks ago, the market soared from the support level at the low of $0.34 to the resistance level of $0.46 as the bulls’ momentum outpaced the bears’. When the morning star candle pattern formed, the sellers stopped raising prices further. A downward trend starts, and the price is attempting to breach the $0.38 barrier.
The price of Cardano is currently trading below both the 9-period and 21-period exponential moving averages, indicating a sell signal. A sell signal can be seen on the period 14 relative strength index signal line, which is pointing down and is at level 36.
You can purchase Lucky Block – Guide, Tips & Insights | Learn 2 Trade here. Buy LBLOCK
- 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
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus
