Cardano Price May Experience a Bullish Reversal at $0.35 Level

Bulls may dominate Cardano market soon

ADA Price Analysis – 25 June

Buyers may attempt to test the resistance levels at $0.39 and $0.42 if they can keep Cardano above the $0.37 barrier. If the $0.35 barrier is breached, the support levels of $0.33 and $0.30 will be taken into account.

Key Levels:

Resistance levels: $0.37, $0.39, $0.42

Support levels: $0.35, $0.33, $0.30

ADA/USD Long-term Trend: Bearish

The daily chart of Cardano shows a downward trend. The chart displayed a double top pattern on April 13, at the $0.45 resistance level. Resistance came at first from the expected first level, but ultimately the price broke through. There was a bearish candle pattern on the daily chart. Last two weeks, there were bearish candles, and the $0.39 support level turned into a resistance level. The price is testing the $0.35 level since last week.

Bears currently dominate the cryptocurrency market. As bears attempt to overwhelm the market, Cardano is presently trading just below the Hull Suite forex signals indicator. Buyers may attempt to test the resistance levels at $0.39 and $0.42 if they can keep the price above the $0.37 barrier. If the $0.35 barrier is breached, the support levels of $0.33 and $0.30 will be taken into account.

ADA/USD Medium-term Trend: Bullish

Cardano’s 4-hour chart indicates an inclining trend. It has made two unsuccessful attempts in the past two weeks to breach the $0.35 4-hour chart support level. As selling picked up steam and more bears than bulls entered the market, ADA fell and tested the $0.35 threshold. Sellers are holding the bearish engulfing candle that surfaced when the coin hit the predetermined level. The price is moving in the direction of the $0.37 resistance level at the moment.

A buying market may be indicated by the fact that Cardano’s price is presently trading above the Hull Suite Crypto indicators. Taking into account that the leading forex signal provider, the QQE MOD indicator, is currently displaying a selling signal and is below the zero line.

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