Buyers’ momentum increases
ADA Price Analysis – 18 April
In case buyers are successful in holding the $0.41 support level, the Price may move over the $0.44, $0.46, and $0.50 levels. If the $0.41 support level is broken lower, the $0.40 and $0.38 levels will be tried next. Customers might, however, get more enthusiastic.
ADA/USD Market
Key Levels:
Resistance levels: $0.44, $0.46, $0.50
Support levels: $0.41, $0.40, $0.38
ADA/USD Long-term Trend: Bullish
Cardano is bullish on the Long-term outlook. On March 11, bears forced the crypto lower to test the $0.31 support level, ending their bearish cruise. At the same level, a bullish engulfing candle pattern formed to signify resistance from the buyers. The $0.34 resistance barrier was overcome as it increased and grew. A bullish engulfing candle formation at the previously indicated level favorably favored buyers over sellers. Price reversed direction and attempted to cross the $0.41 resistance level. Presently, it is up against the $0.44 resistance level.
Cardano is trading above the 9-period EMA and has surpassed the upside of the 21-period EMA. According to the two exponential moving averages (EMAs). In case buyers are successful in holding the $0.41 support level, the Price may move over the $0.44, $0.46, and $0.50 levels. If the $0.41 support level is broken lower, the $0.40 and $0.38 levels will be tried next. Customers might, however, get more enthusiastic. At a level of 67, the Relative Strength Index period 14 signal line is heading up, signaling a buy.
ADA/USD Medium-term Trend: Bullish
On the 4-hour chart, Cardano is trending upward. The bulls’ momentum proved to be stronger than the bears’, and the market surged from the support level at the low of $0.34 to the resistance level of $0.39. Buyers want to halt additional price declines and break through the $0.41 barrier level. It is pulling back at the moment.
The price of Cardano is currently trading above both the 9-period and 21-period exponential moving averages, indicating a buy signal. A buy signal can be seen on the period 14 relative strength index signal line, which is pointing up and is at level 53.
You can purchase Lucky Block here. Buy LBLOCK
- Broker
- Min Deposit
- Score
- Visit Broker
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Award-winning Cryptocurrency trading platform
- 14 Cryptoassets available to invest in
- FCA & Cysec regulated
Highly volatile unregulated investment products. No EU investor protection.
- Over 100 different financial products
- Invest from as little as $10
- Same-day withdrawal is possible
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus
