Cardano Price Is Struggling to Break Up $0.37 Resistance Level

Invest at least $250 in D2T to gain lifetime access to our VIP Signals

Get early access to Dash 2 Trade’s Presale. Buy the D2T token now

Existing community of 70,000+ traders

Unlocks access to the leading crypto trading analysis, signals and trading tools

As featured in CryptoNews.com, FXEmpire.com, FXStreet.com and more

World class development team backed by Quant developers and VC investors

BUY D2T NOW

WHITEPAPER

D2T TELEGRAM

Bullish momentum increases in Cardano market

ADA Price Analysis – 24 January

Cardano may drop to the $0.34, $0.33, and $0.31 support levels if sellers maintain their position around the $0.37 resistance level. Buyers may get more encouraged if the $0.37 resistance level is breached, driving the price up to $0.40 and $0.41.

ADA/USD Market

Key Levels:

Resistance levels: $0.37, $0.40, $0.41

Support levels: $0.34, $0.33, $0.31

ADA/USD Long-term Trend: Bullish

Cardano remains bullish on long-term outlook. The price of the cryptocurrency found support at $0.23 on 29 December. The sellers lost their impetus and were unable to drive the price below $0.23. Fast-moving buyers produced large bullish candles. The rising price overcame the prior resistance levels of $0.31, $0.33, and $0.34.The bulls are trying to push the price above the $0.37 resistance level at the moment.

Cardano is presently trading above the two dynamic support levels, which is a positive indication, and is advancing in the direction of the 9-period EMA and 21-period EMA. Buyers may get more encouraged if the $0.37 resistance level is breached, driving the price up to $0.40 and $0.41. The price may drop to the $0.34, $0.33, and $0.31 support levels if sellers maintain their position around the $0.37 resistance level. A strong purchase signal is shown by the signal line of the Relative Strength Index period 14 pointing upward and being at a level of 74.

ADA/USD Medium-term Trend: Bullish.

On the 4-hour chart, Cardano is moving in a bullish direction. The sellers’ zeal increased a few weeks ago, and the $0.23 support level was tested. After rebounding off the just mentioned level, the price soars towards the north. The price pulled back after probing the $0.33 resistance level before finally breaking through the $0.34 resistance level. The Cardano market is now dominated by bulls struggling to break up the $0.37 resistance level.

The price of Cardano is trading above both the 9-period and 21-period EMAs, with the fast EMA closed to slow EMA as an indication of low volatility. The relative Strength Index Period 14 is at 58 levels, the signal line displaying a bearish direction.

You can purchase Lucky Block here. Buy LBLOCK