• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news today, price & technical analysis
Price & Market
Cap Data from
Nomics Logo
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
  • Play GamesTry
  • BUY BITCOINTry
No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
  • Play GamesTry
  • BUY BITCOINTry
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo
Home Cryptocurrency news Cardano

Cardano (ADA) Bulls Outpaces Bitcoin: Here’s What Could Propel It to $0.06

Aayush Jindal by Aayush Jindal
12 months ago
in Cardano, Technical analysis
Reading Time: 2min read
Cardano Rally
Advertisement
Listen to Article

Cardano rallied more than 12% and outpaced bitcoin’s 5% rise. ADA price is now trading well above $0.0500 and it could continue to rise towards the $0.0600 resistance area.

  • ADA price started a strong rise after it broke a major resistance near $0.0465 against the US dollar.
  • The price rallied above the $0.0500 and $0.0520 resistance levels.
  • There was a break above a key contracting triangle with resistance near $0.0440 on the 4-hours chart of the ADA/USD pair (data source from Kraken).
  • The pair is likely to rise further towards the $0.0600 and $0.0620 resistance levels in the near term.

Cardano Bulls In Control

This past week, cardano formed a strong support base near the $0.0410 level. Later, ADA started a slow and steady rise above the $0.0420 resistance area.

Finally, it broke the $0.0440 and $0.0450 resistance levels to start a strong upward move. Moreover, there was a break above a key contracting triangle with resistance near $0.0440 on the 4-hours chart of the ADA/USD pair.

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

It opened the doors for more gains above the $0.0500 and $0.0520 resistance levels. The price traded to a new yearly high at $0.0545 and it is currently showing a lot of positive signs.

On the upside, an initial hurdle is near the $0.0550 level. A successful break above the $0.0550 level could propel cardano price towards the main $0.0600 resistance level. Any further gains could lead the price towards the $0.0620 level.

Dips In ADA Remain Supported

If ADA starts a downside correction, the $0.0520 area might act as a decent support. It coincides with the 23.6% Fib retracement level of the recent rise from the $0.0440 low to $0.0545 high.

The first major support for the bulls is near the $0.0500 level. In addition, the 50% Fib retracement level of the recent rise from the $0.0440 low to $0.0545 high is also positioned just below the $0.0500 level.

If cardano fails to stay above the $0.0500 support area, the bulls might lose control. In the mentioned bearish case, the price is likely to start a larger downside correction towards the $0.0465 support (the recent breakout zone) or it could test the 100 simple moving average (4-hours) in the coming days.

Technical Indicators

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

4-hours RSI (Relative Strength Index) – The RSI for ADA/USD is currently well above the 70 level and it is in the overbought zone.

Major Support Levels – $0.0520, $0.0500 and $0.0465.

Major Resistance Levels – $0.0550, $0.0600 and $0.0620.

Tags: ADACardano
TweetShare22
Nexo Logo
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? 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

Ethereum

Ethereum Could See an Explosive Move Higher Following Massive 20% Surge

2 hours ago
bitcoin bear trend adx

Bear Trend Begins To Take Hold In Bitcoin For First Time Since October 2020

3 hours ago
Bitcoin

Bitcoin Tests a Critical Resistance Following Overnight Rebound; What’s Next?

7 hours ago
Polkadot (DOT)

Charted: Polkadot (DOT) Holding Gains Despite Sharp Drop in BTC and ETH

16 hours ago
Ethereum

TA: Ethereum Starts Recovery, Why ETH Could Face Resistance Near $1,250

18 hours ago
TA: Bitcoin Nosedives To $28.5K, Why Important Support Turned Resistance

TA: Bitcoin Nosedives To $28.5K, Why Important Support Turned Resistance

20 hours ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Changelly

Changelly

Review · Visit
Evolve Markets

Evolve Markets

Review · Visit
ArbiSmart

ArbiSmart

Review · Visit
PrimeXBT

PrimeXBT

Review · Visit
Moneta Markets

Moneta Markets

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bonusfinder DE

Bonusfinder DE

Review · Visit
Bspin

Bspin

Review · Visit
Wolf Bet

Wolf Bet

Review · Visit

Top Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

Cryptowisser Releases Report on Exchanges With Lowest Fees

January 22, 2021

LABS Group Announced Strategic Partnership with Centifuge to Provide DeFi Collateralized Property Backed Lending

January 22, 2021

Jump-starting Crypto Adoption: Aurix IEO Scheduled for January 21st on ExMarkets!

January 22, 2021

Newsletter Signup


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

Auto Trading Software ▸

Cryptocurrency news

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

© 2020 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Trade
  • Gamble +
  • Play Games
  • BUY BITCOIN

© 2020 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.