Cardano Price Retests Support Level of $0.366 Level

Bulls’ momentum is inreasing in Cardano market

ADA Price Analysis – 01 October

Buyers may attempt to test the resistance levels at $0.422 and $0.449 if they can keep the price of Cardano above the $0.402 barrier. If the $0.366 barrier is overcome, the support levels of $0.351 and $0.331 will be taken into account.

Key Levels:

Resistance levels: $0.402, $0.422, $0.449

Support levels: $0.366, $0.351, $0.331

ADA/USD Long-term Trend: Bullish

The daily chart for Cardano shows an upward trend. The chart displayed a double bottom formation on September 6th, close to the $0.302 support level. Price tested the resistance level of $0.402 after initially finding support at the expected first level of $0.302. But again, the price was dropping. There was a bullish candle pattern on the daily chart. Bullish candles have been seen over the last two days, and the resistance level at $0.366 is currently being breached. The price is currently rising in an attempt to break through the $0.402 barrier.

The Cardano market appears to be firmly in the hands of the bulls. Currently, bulls are gaining control of the market as Cardano is rapidly rising over the Hull Suite forex signals indicator. Buyers may attempt to test the resistance levels at $0.422 and $0.449 if they can keep the price above the $0.402 barrier. If the $0.366 barrier is overcome, the support levels of $0.351 and $0.331 will be taken into account.

ADA/USD Medium-term Trend: Bullish

Cardano’s 4-hour chart exhibits an inclining trend. In the past three weeks, it has attempted twice in vain to breach the support level shown by the $0.302 4-hour chart. When buying momentum increased and more bulls than bears entered the market, the value of ADA increased, approaching $0.42. Buyers are holding the bullish engulfing candle that appeared when the currency crossed back over the predetermined level. As of right now, the price is approximately $0.402.

Currently, Cardano’s price is trading above the Hull Suite Crypto indicators, which may indicate a buying market. Given that the finest source of forex signals, the QQE MOD indicator, is currently above the zero line and displaying a purchasing signal.

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