Cardano's price has risen above $0.50 against the US dollar, similar to bitcoin. If the ADA price breaks through the $0.51 resistance, it might gain bullish momentum.
According to price analysis, This week, the price of cardano started to rise above $0.450 against the US dollar. The ADA/USD pair was able to break through the resistance levels of $0.465 and $0.470.
During the increase, CARDANO price was able to break over the $0.480 resistance level as well as the 55 simple moving average. The price passed the 23.6% Fib retracement level of the fall from the $0.594 swing high to the $0.425 low.
It is currently trading above the $0.47 support level and the 55 simple moving average. On the 4-hours chart, a major bullish trend line is formed with support about $0.480.
On the upside, an immediate resistance is placed at $0.5150. The next key resistance is at $0.510. It is nearing the 50% Fib retracement level of the drop from the $0.594 swing high to the $0.425 low. The main hurdle is around $0.530.
A strong break above $0.530 might push the price towards the $0.600 barrier. On the downside, an immediate support level is at $0.49.
The next major support is at the $0.480 level and the trend line. The main support is presently approaching the $0.465 level. A clear break below the trend line and $0.465 might take the stock towards $0.450. Any more losses might push the price down to the $0.425 support level.
KEY LEVELS :
RESISTANCE LEVEL : $0.54-$0.58
SUPPORT LEVEL : $0.48-$0.46
Latest news: 
. 
. 
. 
. 
. 
. 
Shop
Bidding Open
Topic: Cryptocurrency price update: CARDANO PRICE ANALYSIS : (Read 918 times)