ADA price rallied recently and broke the $0.0380 and $0.0400 resistance levels against the US Dollar.
There was a break above a crucial bearish trend line with resistance at $0.0370 on the 4-hours chart (data feed via Kraken).
A contracting triangle is formed with resistance at $0.0412 and support near $0.0400 on the same chart.
The price could correct lower a few points, but it is likely to find support near the $0.0392 zone.
Tron CEO Justin Sun to be Accompanied by Charlie Lee in a Lunch with Warren Buffett
Monday June 17, 2019
Coinspeaker Tron CEO Justin Sun to be Accompanied by Charlie Lee in a Lunch with Warren BuffettJustin Sun, CEO of Tron seems to have some magical powers. As report speculates that the blockchain expert would be meeting with one of the most influential personalities in the financial sector – Warren Buffett, Chairmain and CEO of […]
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Cardano price gained bullish momentum recently against the US Dollar and Bitcoin. ADA is trading nicely above the $0.0400 and $0.0392 support levels, with chances of more gains.
Cardano Price Analysis
After consolidating above the $0.0365 support, cardano price declined towards $0.0355 against the US Dollar. The ADA/USD pair found a strong buying interest above the $0.0355 level and later bounced back. The price gained traction and rallied above the $0.0365 and $0.0380 resistance levels. There was a break above a crucial bearish trend line with resistance at $0.0370 on the 4-hours chart. It opened the doors for more gains and the price settled above $0.0380 plus the 55 simple moving average (4-hours). The upward move was strong as the price climbed above the $0.0400 and $0.0420 resistance levels.
A new monthly high was formed at $0.0428 and later the price corrected lower. It declined below the $0.0420 and $0.0415 support levels. Sellers pushed the price below the 23.6% Fibonacci retracement level of the recent wave from the $0.0359 low to $0.0428 high. However, the $0.0400 support area is currently acting as a support. More importantly, there is a contracting triangle is formed with resistance at $0.0412 on the same chart. If there is a downside break below the $0.0400 support, the price could test the $0.0392 support. The 50% Fibonacci retracement level of the recent wave from the $0.0359 low to $0.0428 high is also near $0.0393. Finally, the 55 simple moving average (4-hours) is positioned above $0.0392 to act as strong support.
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Friday November 02, 2018
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The chart indicates that ADA price remains supported above the $0.0400 and $0.0392 levels. Should cardano price decline below the $0.0392 support, there could be a reversal towards $0.0380. Conversely, the price might accelerate gains once buyers clear the $0.0412 and $0.0415 resistance levels. The next key resistances on the upside are at $0.0425 and $0.0440. The overall price structure is positive, with chances of more gains as long as the price is above $0.0392.
4 hours MACD – The MACD for ADA/USD is slowly reducing its bullish slope.
4 hours RSI – The RSI for ADA/USD is back above the 50 level, with a bullish angle.
Key Support Level – $0.0356
Key Resistance Level – $0.0385
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Tom Brady Is Enjoying Early Mornings, Late Nights With Josh Gordon
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FOXBORO, Mass. — It’s easy to see New England Patriots wide receiver Josh Gordon has caught on quickly in his new digs. All you have to do is watch Gordon play every week in a Patriots uniform. Despite playing just 10 games, Gordon leads the team with 701 receiving yards. But how did Gordon get […]
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