Cardano Price: Potential Bullish Reversal Level  Reached
Login

Cardano Price: Potential Bullish Reversal Level  Reached

Estimated Reading Time: 2 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:


ADA Price Analysis – February 15

An increase in the Bulls’ momentum, will push the price to the resistance level of $1.11, which may be penetrated and the resistance level of $1.30 and $1.52 may be tested. In case the bears penetrate the support level of $1.01, sellers may push down the price towards $0.91 and $0.83 levels.

ADA/USD Market

Key Levels:

Resistance levels: $1.11, $1.30, $1.52

Support levels: $1.01, $0.91, $0.83

ADA/USD Long-term Trend: Bearish

Cardano is bearish on daily chart. The coin is under the pressure of the bears for many weeks. The price action has formed a descending channel. The price is declining within the channel. There was no significant movement in the Cardano market last week. The Buyers’ momentum is weak, likewise, the bulls’ pressure could not break up the resistance level of $1.11. The price is currently dangling within $1.11 and $1.01 level.

Cardano is trading around the 9 periods EMA and 21 periods EMA which indicate a ranging market. An increase in the Bulls’ momentum, will push the price to the resistance level of $1.11, which may be penetrated and the resistance level of $1.30 and $1.52 may be tested. In case the bears penetrate the support level of $1.01, sellers may push down the price towards $0.91 and $0.83 levels. The relative Strength Index period 14 is at 44 levels with the signal line pointing up which connote buy signal.

ADA/USD Medium-term Trend: Ranging

Cardano is on the ranging movement on 4-hour chart. The bearish movement has successfully pushed the price to the support level of $1.01 level. The mentioned level holds and the price could not penetrate the level. At the same time the bears’ momentum failed. The price commences a consolidation within the $1.11 resistance level and $1.01 support level.

The price is trading around the 9 periods EMA and 21 periods EMA. The relative strength index period 14 is at 48 levels with the signal line pointing up to indicate buy signal.

You can purchase crypto coins here.  Buy Tokens

 

  • 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

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
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.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News