Cardano Price Is Targeting Previous High at $0.402 Level

Buyers’ pressure is inreasing in Cardano market

ADA Price Analysis – 24 September

 If buyers can hold Cardano price above the $0.402 barrier, they can try to test the resistance levels at $0.422 and $0.449. The support levels of $0.351 and $0.331 will be considered if the $0.366 barrier is broken.

Key Levels:

Resistance levels: $0.402, $0.422, $0.449

Support levels: $0.366, $0.351, $0.331

ADA/USD Long-term Trend: Bullish

Cardano’s daily chart indicates an inclining trend. On 06 September, the chart showed a double bottom formation near the $0.302 support level. After first encountering support at the anticipated initial level of $0.302, the price tested the resistance level of $0.402. But once more, the cost was going down. On the daily chart, there was a bullish candle pattern. The previous two days have had bullish candles, and the $0.366 resistance level is presently being broken up. Right now, the price is increasing in an effort to test the $0.402 barrier.

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The bulls seem to have a tight grip on the Cardano market. Cardano is currently moving swiftly above the Hull Suite forex signals indicator as bulls try to take control of the market. If buyers can hold the price above the $0.402 barrier, they can try to test the resistance levels at $0.422 and $0.449. The support levels of $0.351 and $0.331 will be considered if the $0.366 barrier is broken.

ADA/USD Medium-term Trend: Bullish

The 4-hour chart for Cardano shows an inclining trend. It has made two unsuccessful attempts in the last three weeks to break through the support level shown by the $0.302 4-hour chart. Value of ADA rose, approaching $0.42, as buying momentum grew and more bulls than bears entered the market. The bullish engulfing candle, which emerged when the currency crossed back over the predefined level, is being held by buyers. The price is currently up to roughly $0.402.

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The fact that Cardano’s price is currently trading above the Hull Suite Crypto indications could be a sign of a buying market. Considering that the QQE MOD indicator, the best source of forex signals, is presently showing a buying signal and is above the zero line.

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