• 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
  • Bitcoin Casino ReviewsTry
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
  • Bitcoin Casino ReviewsTry
No Result
View All Result
NewsBTC
No Result
View All Result
technical analysis cardano
Nexo Logo

Cardano Price Analysis: ADA/USD’s Upsides Remain Capped

Aayush Jindal by Aayush Jindal
4 years ago
in Technical analysis
Reading Time: 2 mins read
Advertisement

Key Highlights

  • ADA price declined recently and broke the $0.2400 support level against the US Dollar (tethered).
  • There is a key bearish trend line in place with resistance at $0.2450 on the hourly chart of the ADA/USD pair (data feed via Bittrex).
  • The pair is currently correcting higher, but upsides are likely to be capped by $0.2450 and $0.2500.

Cardano price is currently under pressure against the US Dollar and Bitcoin. ADA/USD may correct higher, but it will most likely face hurdles around $0.2500.

Cardano Price Analysis

There was no major recovery above $0.2600 in ADA price against the US Dollar. The price topped around the $0.2615 level and the 100 hourly simple moving average. A fresh bearish wave started and the price declined below the $0.2500 and $0.2400 support levels. It traded close to the $0.2300 level and a low was formed at $0.2304. A base was formed and the price is currently correcting higher towards $0.2450.

At the moment, the price is testing the 23.6% Fib retracement level of the last decline from the $0.2616 high to $0.2304 low. However, there are many resistances on the upside around $0.2500. There is also a key bearish trend line in place with resistance at $0.2450 on the hourly chart of the ADA/USD pair. Furthermore, the 50% Fib retracement level of the last decline from the $0.2616 high to $0.2304 low is positioned near $0.2460. Therefore, it seems like the price is likely to face a strong barrier near $0.2450-0.2500.

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

Cardano Price Analysis ADA USD

The chart indicates that the price is slowly recovering from $0.2300. If it fails to move above the $0.2500 resistance, it could decline once again towards $0.2300. Below the stated $0.2300 support, the price may perhaps move towards the $0.2000 handle. On the flip side, above $0.2500, the price might climb towards $0.2750.

Hourly MACD – The MACD for ADA/USD is about to move into the bullish zone.

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

Hourly RSI – The RSI for ADA/USD is well below the 50 level.

Major Support Level – $0.2300

Major Resistance Level – $0.2500

Read our comparison of 50 different crypto casinos. Find out who has most generous bonuses, best UX, knowledgeable customer support and best provably fair games.
Tags: ADAADA/USDCardanoCardano priceCardano price AnalysisCardano price Chart
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

Bitcoin

TA: Bitcoin Price Holds Support, Why BTC Might Attempt Fresh Increase

33 mins ago
TA- Cosmos Could Be Set For A Wild Rally Ahead Of Crucial Breakout

TA- Cosmos Could Be Set For A Wild Rally Ahead Of Crucial Breakout

6 hours ago
bitcoin price support

Has Bitcoin Price Found Support At A Decade-Long Trend Line?

10 hours ago
TA- Ethereum Price struggles To Breakout – Eyes $2,000

TA- Ethereum Price struggles To Breakout – Eyes $2,000

16 hours ago
Bitcoin

TA: Bitcoin Price Could Rally If There Is A Close Above This Key Resistance

1 day ago
ApeCoin APE-1

TA – Apecoin Price Rallies Ahead Of The $10 Mark

3 days ago

Premium Partners

Top Brokers

PrimeXBT

PrimeXBT

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
7BitCasino

7BitCasino

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

The Main Reason Why GNOX (GNOX) Could Flip Dogecoin (DOGE) And Shiba Inu (SHIB) In 2023

August 8, 2022

The Next Bullish Wave in Crypto Could Generate Huge Profits for Uniglo (GLO), Fantom (FTM), and Optimism (OP)

August 8, 2022

The FishVerse Announces the First Ultimate Fishing Metaverse

August 8, 2022

Bware Labs announces the Blast Incentivized Testnet, code-named Houston

August 8, 2022

MEXC to List AURA Network, Supporting NFTs Adoption for More Possibilities

August 8, 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
  • Bitcoin Casino Reviews

© 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.