• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
No Result
View All Result
NewsBTC
No Result
View All Result
Cardano (ADA)
Nexo Logo

Charted: Cardano (ADA) Corrects Gains, Why It Could Rally Again To $1.5

Aayush Jindal by Aayush Jindal
1 year ago
in ADA
Reading Time: 2 mins read
Advertisement

Cardano’s price gained over 25% this week and it broke the key $1.200 resistance zone. ADA is likely to continue higher above the $1.300 and $1.400 resistance levels.

  • ADA is showing a lot of positive signs above the $1.200 pivot level against the US dollar.
  • The price is trading nicely above $1.2000 and the 100 simple moving average (4-hours).
  • There was a break above a crucial bearish trend line with resistance near $1.050 on the 4-hours chart of the ADA/USD pair (data source from Bitfinex).
  • The pair might correct lower, but the larger trend is up and it could rise above $1.500.

Cardano (ADA) is Correcting Gains

After forming a support base above the $0.9980 and $1.00 levels, cardano’s price started a fresh increase. ADA price broke the $1.120 and $1.200 resistance levels to move into a positive zone.

There was also a break above a crucial bearish trend line with resistance near $1.050 on the 4-hours chart of the ADA/USD pair. The pair even cleared the $1.220 resistance zone. It is now trading nicely above $1.2000 and the 100 simple moving average (4-hours).

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

ADA climbed towards the $1.480 resistance and high is formed near $1.472. Recently, there was a downside correction below the $1.335 support zone zone. The price also spiked below the 50% Fib retracement level of the upward move from the $1.001 swing low to $1.472 high.

Cardano (ADA)

Source: ADAUSD on TradingView.com

However, the bulls are protecting the key $1.2000 support zone. The price is also holding the 61.8% Fib retracement level of the upward move from the $1.001 swing low to $1.472 high.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

If there is a downside break below the $1.200 support and the 100 simple moving average (4-hours), there could be a trend change. In the stated case, the price could decline towards the $1.050 support.

Fresh Increase?

If cardano’s price stays above the $1.200 support, it could start a fresh increase. On the upside, an immediate resistance is near $1.300 and $1.335.

The next major resistance is near the $1.400 and $1.405 levels. A clear break above the $1.400 resistance will most likely open the doors for a steady increase towards the $1.500 level in the near term.

Technical Indicators

4-hours MACD – The MACD for ADA/USD is slowly gaining momentum in the bearish zone.

4-hours RSI (Relative Strength Index) – The RSI for ADA/USD is now testing the 50 level.

Major Support Levels – $1.200, $1.180 and $1.050.

Major Resistance Levels – $1.300, $1.335 and $1.400.

Tags: adabtcadausdADAUSDTCardano
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Aayush Jindal

Aayush Jindal

Aayush is a Senior Forex, Cryptocurrencies and Financial Market Strategist with a background in IT and financial markets. He specialises in market strategies and technical analysis, and has spent over a DECADE as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the currency, commodities, Bitcoin and Ethereum markets.

Related Posts

Cardano

Cardano (ADA) Could Slide Back To $0.40 – But $0.68 Still Doable

1 month ago
Cardano (ADA)

ADA On Discount? Cardano Whales Go On $200M Shopping Spree

2 months ago
Cardano

Cardano (ADA) Real Volume Suggests Downtrend Is Far From Over

2 months ago
Cardano

Market Nosedive Sends Cardano (ADA) Deeper Into Bear Territory

2 months ago
Ethereum Price ETH

TA: Ethereum Breaks Key Support, Why Decline Isn’t Over Yet

3 months ago
Cardano (ADA)

Majority Of Cardano (ADA) Holders In Loss As Price Slides To $1

3 months ago

Premium Partners

Top Brokers

PrimeXBT

PrimeXBT

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
7BitCasino

7BitCasino

Review · Visit
BC.Game

BC.Game

Review · Visit
Punt Casino

Punt Casino

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bspin

Bspin

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
BC.Game

BC.Game

Review · Visit

Crypto Crash: Bitcoin Falling Helplessly, Find Succour in These Two Coins

June 29, 2022

The Stock Market Crash Has Spurred Investors To Invest In Cryptocurrencies Like Mushe Token (XMU) and Quant (QNT)

June 29, 2022

TRON Breaks the 100 Million Users Mark, Celebrates Mainnet 4th Anniversary, and Announces Huge Hiring Push Amid Market Meltdown

June 29, 2022

LBank Exchange Will List Delio(DSP) on June 30, 2022

June 29, 2022

LBank Weekly Listing Report, 27th June 2022

June 29, 2022

ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2021 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play Games
  • Bet & Win

© 2021 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.