The most recent analysis of Cardano’s price reveals that the bulls are making steady progress. ADA has experienced a 0.22% increase in the last 24 hours, reaching $0.3790. Starting the trading session at $0.3774, ADA has faced resistance at $0.3859 and retraced slightly below $0.3800.
Currently, the bulls are encountering resistance at the $0.3859 level, which is expected to be broken soon if the buyers maintain their strength. On the other hand, support at $0.3764 has successfully prevented a further drop in price. However, if this support fails, ADA could face a correction towards $0.3650 or even $0.3500.
Analyzing Cardano’s price on a daily chart, it is evident that the bulls have pushed ADA above the $0.3800 level and are now facing strong resistance at $0.3900. Overcoming this obstacle could pave the way for ADA to reach $0.4000 or higher in the coming days. The trading volume and market cap have also increased, currently standing at $215 million and $13.2 billion, respectively.
In terms of technical indicators, ADA is showing a bullish trend. The Relative Strength Index (RSI) is currently at 53.12, indicating that buyers have the upper hand in the market. The Moving Average Convergence Divergence (MACD) line is above the signal line, further supporting the bullish sentiment. Additionally, the Bollinger Bands are widening, suggesting increased volatility ahead. Strong support for ADA can be found at the lower band of $0.3560 and the upper band of $0.3800.
The 4-hour chart for Cardano’s price analysis reinforces the bullish outlook as buyers continue to push the price higher. Resistance is currently at the $0.3800 level, with the green candlestick surpassing the red one, indicating buyer dominance.
The RSI is above 65.47, confirming the buyers’ control of the market. The MACD line is also above the signal line, suggesting a possible bullish trend in the near future. The green bars on the histogram further support the bullish sentiment. Additionally, the widening pattern of the Bollinger Bands indicates potential increased volatility in the days to come.
To summarize, Cardano’s price analysis reveals that the bulls are still in control despite minor corrections. Traders should closely monitor the resistance at $0.3800 and support at $0.3750 for insights into ADA’s near-term direction. If buyers maintain control, ADA could break the resistance at $0.3859 and aim for $0.3900 or higher in the near future.
