.Cardano Holding Key Support Can See These Levels – Cardano’s price recovered sharply from the $ 1,050 support zone. ADA is likely to continue to rise if it clears the key resistance zone at $ 1,220 in the near term.
ADA is showing many positive signs above the $ 1,150 pivot level against the US Dollar.
The price is trading nicely above $ 1,165 and the 100 simple moving average (4 hours).
There is a key bearish trend line showing resistance near $ 1,218 on the 4-hour chart of the ADA / USD pair (data source from Bitfinex).
If there is a clear break above $ 1,220, the pair is likely to enter a strong uptrend.
Cardano (ADA) Holds Earnings
After a steady decline, Cardano’s price remained stable above $ 1,000. ADA price traded as low as $ 1,038 before starting an upward correction. There was a modest increase above the $ 1,080 and $ 1,110 resistance levels.
The price even rose above the $ 1,150 level and the 100 simple moving average (4 hours). Bulls pushed the price above the $ 1,220 resistance. A high was formed around $ 1,287 and the price is currently correcting lower.
Open an account on ICRYPEX, the first Turkish stock exchange that provides 24/7 telephone support to its investors and quickly buy Bitcoin and Cryptocurrencies with the lowest commission rates.
There seems to be a large support formed around $ 1,165. There is also a key bearish trend line formed with resistance around $ 1,218 on the 4-hour chart of the ADA / USD pair.
If there is an upside break above the $ 1,200 and $ 1,220 resistance levels, the price could start a strong uptrend. In the stated situation, the price could steadily rise to the $ 1,280 and $ 1,335 levels.
If Cardano’s price fails to cross the $ 1,200 and $ 1,220 resistance levels, it could initiate a new decline. Key breakout support forms near the $ 1,165 and $ 1,150 levels.
A downside break below the $ 1,150 level could open the doors for a fresh drop towards $ 1,050. The next major support is near the $ 1,000 level.
Technical Indicators
4-hour MACD – The MACD for ADA / USD is slowly losing momentum in the bullish zone.
4-hour RSI (Relative Strength Index) – The RSI for ADA / USD is currently approaching the 50 level.
Major Support Levels – $ 1,165, $ 1,150 and $ 1,050.
Major Resistance Levels – $ 1,200, $ 1,220 and $ 1,280.
To get the latest news To our Telegram channel, To our Twitter page and To our Facebook page You can subscribe.
