ADA Bulls May Push the Price Upward

1 Mins read

The Cardano price prediction may lack short-term and medium-term support but if the price rises even further, the coin is likely to face up.

ADA/USD Market

Key Levels:

Resistance levels: $0.90, $1.00, $1.10

Support levels: $0.35, $0.25, $0.15

Cardano Price Prediction
ADAUSD – Daily Chart

ADA/USD is trading around the $0.65 resistance level but the coin remains below the 9-day and 21-day moving averages. However, if the bulls push the market price above the 9-day MA, the nearest resistance may be located around $0.70. Moreover, if the market increases, additional resistance can be found above the 21-day moving average.

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Cardano Price Prediction: Cardano (ADA) May Break to the Upside

At the time of writing, traders could see that the Cardano price may likely create more bullish trends once the bearish movement is over and this is noticeable as the technical indicator Relative Strength Index (14) is moving out of the oversold region.

Looking at the daily chart, the market decides to rebounds from the low of $0.58 around the lower boundary of the channel but any bearish movement below this barrier could lead the coin to a serious downtrend. However, the support levels for the coin could be found at $0.35, $0.25, and $0.15, while the resistance levels lie at $0.90, $1.00, and $1.10 respectively.

ADA/BTC Market: Price Remains in a Range

When compared with Bitcoin, the support level of this range is built around 2000 SAT. The resistance is set at 2200 SAT because the market price is still changing below the 21-day moving average. Technically, the price continues to move sideways within the channel as the technical indicator Relative Strength Index (14) moves to cross above 50-level.

ADABTC – Daily Chart

However, if the Cardano price remains below the moving averages, ADA/BTC may likely face the lower boundary of the channel to hit the support level of 1700 SAT and below. Moreover, any bullish movement above the moving averages may allow the market to form a new upward trend and this could reach the potential resistance at 2500 SAT and above.

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