Cardano Price May Experience a Bearish Reversal at $0.41

Azeez Mustapha

Updated:

Unlock Daily Forex Signals

Select a Plan

£39

1 - month
Subscription

Select

£89

3 - month
Subscription

Select

£129

6 - month
Subscription

Select

£399

Lifetime
Subscription

Select

£50

Separate Swing Trading Group

Select

Or

Get VIP forex signals, VIP crypto signals, swing signals, and forex course free for lifetime.

Just open an account with one our affiliate broker and make a minimum deposit: 250 USD.

Email [email protected] with a screenshot of funds on account to get access!

Sponsored by

Sponsored Sponsored
Checkmark

Service for copy trading. Our Algo automatically opens and closes trades.

Checkmark

The L2T Algo provides highly profitable signals with minimal risk.

Checkmark

24/7 cryptocurrency trading. While you sleep, we trade.

Checkmark

10 minute setup with substantial advantages. The manual is provided with the purchase.

Checkmark

79% Success rate. Our outcomes will excite you.

Checkmark

Up to 70 trades per month. There are more than 5 pairs available.

Checkmark

Monthly subscriptions begin at £58.


Sellers may take over Cardano market soon

ADA Price Analysis – 07 February

Cardano may drop to the $0.37, $0.34, and $0.33 support levels if the sellers defend the $0.40 resistance level. Buyers might grow more enthusiastic if the price moves up above $0.41, and $0.44 once the $0.40 resistance level is broken.

ADA/USD Market

Key Levels:

Resistance levels: $0.40, $0.41, $0.44

Support levels: $0.37, $0.34, $0.33

ADA/USD Long-term Trend: Bullish

Cardano is bullish on the Long-term outlook. The price of the coin found support at $0.23 on December 29. The sellers were unable to reduce the price below $0.23 after losing momentum. Active purchasers generated large bullish candles. The rising price overcame the prior resistance levels of $0.33, $0.34, and $0.37. Bulls successfully drive the price upward to challenge the $0.41 barrier level. The $0.41 resistance level is currently being bounced off by the price.

Cardano is increasing along the direction of the 9-period EMA and 21-period EMA and is trading above the two dynamic support levels, which shows that buyers’ enthusiasm is high. The price may drop to the $0.37, $0.34, and $0.33 support levels if the sellers defend the $0.40 resistance level. Buyers might grow more enthusiastic if the price moves up above $0.41, $0.44 once the $0.40 resistance level is broken. Buy signal is indicated by the Relative Strength Index period 14 with the signal line pointing up at a level of 59.

ADA/USD Medium-term Trend: Bearish

Cardano is moving in a bearish direction on the 4-hour chart. Last week, the price tested the resistance level of $0.41 as a result of increased buyer pressure, which caused the resistance levels of $0.33 and $0.34 to be broken upside. The price is currently retreating from the level just specified. This week, sellers might still rule the Cardano market.

The price of Cardano is trading below both the 9-period and 21-period EMAs, with the fast EMA crossed the slow EMA as an indication of bearish movement. The relative Strength Index Period 14 is at 46 levels, the signal line displaying bearish direction.

You can purchase Lucky Block here. Buy LBLOCK

  • 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

Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

Leave a Reply

Your email address will not be published. Required fields are marked *