ADA Price Analysis – April 12
When the sellers increase their momentum to push down price to $0.7, the support level of $0.5 and $0.4 may be tested. In case the Support level of $0.7 holds, the buyers may push up the price towards $1.0, $1.2 and $1.6 levels. The relative Strength Index period 14 is at 39 levels with the signal line pointing downside which indicates sell signal.
ADA/USD Market
Key Levels:
Resistance levels: $1.0, $1.2, $1.6
Support levels: $0.7, $0.5, $0.4
ADA/USD Long-term Trend: Bearish
Cardano is bearish on daily chart. Buyers and sellers are struggling over the crypto. The sellers are trying to overpower the buyers. Former support level of $1.0 has been penetrated downside by the sellers and the price exposes to previous low at $0.7 support level. There is tendency for the price to decline further if the sellers maintain their pressure.
Cardano has crossed the two EMAs downside, currently trading below the 9 periods EMA and 21 periods EMA to establish a bearish trend. When the sellers increase their momentum to push down price to $0.7, the support level of $0.5 and $0.4 may be tested. In case the Support level of $0.7 holds, the buyers may push up the price towards $1.0, $1.2 and $1.6 levels. The relative Strength Index period 14 is at 39 levels with the signal line pointing downside which indicates sell signal.
ADA/USD Medium-term Trend: Bearish
Cardano is on the bearish movement on 4-hour chart. The bullish movement could not continue when the buyers pushed up Cardano to test the resistance level at $1.2. The bears reacted against the price increase with the formation of bearish engulfing candle. The price started decreasing and the support level of $1.0 is broken downside. Further price decrease envisaged as the price is below the two dynamic resistance levels.
The price is trading below the 9 periods EMA and 21 periods EMA. The relative strength index period 14 is at 33 levels and the signal line pointing down to indicate sell signal.
You can purchase Lucky Block here: Buy LBlock
- Broker
- Min Deposit
- Score
- Visit Broker
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Over 100 different financial products
- Invest from as little as $10
- Same-day withdrawal is possible
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus
Learn to Trade
Never Miss A Trade Again
Signal Notification
Real-time signal notifications whenever a signal is opened, closes or Updated
Get Alerts
Immediate alerts to your email and mobile phone.
Entry Price Levels
Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.
