Bitcoin Loses $600, but Is This Latest Drop Just a Fluke?
Friday February 21, 2020
What the heck is going on with bitcoin? Bitcoin Has Fallen… Again!! Just yesterday, we reported that the currency was again above the $10,000 line, but now, it seems the currency is incurring a major drop and has fallen into the mid-$9,000 range overnight. At the time of writing, the world’s number one cryptocurrency by […]
The post Bitcoin Loses $600, but Is This Latest Drop Just a Fluke? appeared first on 12bit trade.
ADA price traded higher recently and tested the $0.0500 resistance against the US Dollar.
There is a significant bullish trend line in place with support at $0.0385 on the 4-hours chart (data feed via Kraken).
The price is likely to break the $0.0450 resistance to start a fresh upward move towards $0.0500.
Cardano price is placed nicely in an uptrend against the US Dollar and Bitcoin. ADA may continue to move higher towards $0.0450, $0.0500 and $0.0520.
Cardano Price Analysis
This past week, there was a solid bullish wave above the $0.0400 resistance in cardano price against the US Dollar. The ADA/USD pair broke the $0.0450 resistance and settled above the 55 simple moving average (4-hours). The price traded close to the $0.0500 resistance, where sellers emerged. A high was formed at $0.0494 before the price started a downside correction.
It moved below the $0.0450 support and the 50% Fibonacci retracement level of the last wave from the $0.0270 low to $0.0494 high. However, the declined was protected by the $0.0360 support and the price bounced back. Besides, there was a test of the 61.8% Fibonacci retracement level of the last wave from the $0.0270 low to $0.0494 high. More importantly, there is a significant bullish trend line in place with support at $0.0385 on the 4-hour chart. The price is currently trading nicely above the $0.0380 support and the trend line. On the upside, a break above the $0.0450 resistance may clear the path for more gains. The next main hurdle for buyers is near the $0.0500 level.
NEW 2020 POLL: Joe Biden 1st, Beto O’Rourke 3rd
Friday December 14, 2018
A new CNN 2020 primary poll found former Vice President Joe Biden leading the Democratic pack with more than twice the support of Vermont Sen. Bernie Sanders and three times that of Texas Rep. Beto O’Rourke. Biden leads the primary poll with 30 percent of Democratic voters saying they would back President Obama’s veep in […]
The chart indicates that ADA price is following a nice bullish path above $0.0360 and $0.0380. As long as there is no break below $0.0360, there are high chances of a break above $0.0450. If not, the price may decline back towards the $0.0280 support.
4-hours MACD – The MACD for ADA/USD is slightly in the bearish zone.
4-hours RSI – The RSI for ADA/USD is just above the 50 level.
Key Support Level – $0.0380
Key Resistance Level – $0.0450
The post Cardano (ADA) Price Could Resume Uptrend Above $0.045 appeared first on Live Bitcoin News.