Cardano Price: Will There Be a Bullish Reversal at $0.458 Level?
Login

Cardano Price: Will There Be a Bullish Reversal at $0.458 Level?

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

Azeez Mustapha

Updated:

Buyers may defend $0.458 support level

ADA Price Analysis – 16 April

 The $0.488 and $0.505 resistance levels may be tested if buyers are able to keep Cardano above the $0.476 barrier. If the $0.458 barrier is breached, the support levels of $0.457 and $0.347 will be examined.

Key Levels:

Resistance levels: $0.476, $0.488, $0.505

Support levels: $0.458, $0.457, $0.347

ADA/USD Long-term Trend: Bearish

The daily chart of Cardano shows a downward trend. A double top pattern appeared on the chart on March 14 at the $0.79 resistance level. The price encountered resistance at the previously indicated level, but it ultimately broke through. There was a bearish candle pattern on the daily chart. Over the past two weeks, there have been strong bearish candles, and the support levels at $0.505, $0.488, and $0.476 have turned into resistance levels. The price decreased following a test of the support level at $0.476. Now, the $0.458 support level is being retested.

Cardano Price: Will There Be a Bullish Reversal at $0.458 Level?

Bears are in charge of the market since Cardano is presently trading below the Hull Suite forex signals indicator. The $0.488 and $0.505 resistance levels may be tested if buyers can keep the price above the $0.476 barrier. If the $0.458 barrier is breached, the support levels of $0.457 and $0.347 will be examined.

ADA/USD Medium-term Trend: Bearish

Cardano’s 4-hour chart indicates decreasing trend. On the 4-hour chart, it had attempted twice in the last two weeks to break above the $0.798 resistance level, but both times it had failed. As the trend strengthens and more bears than bulls enter the market, the ADA fall below $0.476. Sellers are holding the bearish engulfing candle that emerged when the coin hit the mentioned level. The price is currently falling in an attempt to break down to $0.458.

Cardano Price: Will There Be a Bullish Reversal at $0.458 Level?

A selling market is indicated by the fact that Cardano’s price is currently trading below the Hull Suite Crypto signals. Taking into account that the best forex signal provider, the QQE MOD indicator, is currently below the zero line and displaying a selling signal.

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

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