Cardano Price: Indecision Moment as Bears’ and Bulls’ Pressure at Equilibrium
Login

Cardano Price: Indecision Moment as Bears’ and Bulls’ Pressure at Equilibrium

Estimated Reading Time: 2 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:


ADA Price Analysis – October 19

A breakout at $2.30 resistance level may push the coin to $2.68 and $3.0. On the other hand, a breakout at the support level of $1.87 may reduce the price to $1.64 and $1.46 levels. However, the relative strength index is at 40 levels pointing down to indicate sell signal.

ADA/USD Market

Key Levels:

Resistance levels: $2.30, $2.68, $3.0

Support levels: $1.87, $1.64, $1.46

ADA/USD Long-term Trend: Ranging

Cardano is on the ranging movement in the long term outlook. The crypto reduced to $1.87 support level and the sellers’ momentum failed. The bulls have not enough pressure to push up the coin above the resistance level of $2.30. This scenario led to ranging movement within $2.30 resistance level and $1.87 support level.

ADAUSD Daily chart, October 19

The 9 periods EMA is interlocked with the 21 periods EMA while the price is hovering over the two EMAs. Ranging movement may continue until there is a breakout at south or north. A breakout at $2.30 resistance level may push the coin to $2.68 and $3.0. On the other hand, a breakout at the support level of $1.87 may reduce the price to $1.64 and $1.46 levels. However, the relative strength index is at 40 levels pointing down to indicate sell signal.

ADA/USD Medium-term Trend: Ranging

Cardano was ranging in the 4-hour chart last week. The price is range-bound within the resistance level of $2.30 and Support level of $1.87, this might be due to weakness in the bulls’ and the bears’ momentum. Low volatility may continue in the Cardano market until there is a breakout.

ADAUSD 4-hour chart< October 19

The 9 periods EMA weaves around the 21 periods EMA and ADA price is trading around the two EMAs. The Relative Strength Index period 14 is at 40 levels pointing down to indicate a sell signal.

You can purchase crypto coins here.  Buy Tokens

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
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.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News