Cardano (ADA) Appears Bullish with a Major Support at $0.0348

  • Cardano price draws a probable uptrend as it trades at $0.0352 and appears bullish as it continuously spiked from the trading price of $0.0345
  • The price trend of ADA/USD is hitting the upper 20-day Bollinger Band which exhibits that the coin is far away from bearish crossover
  • The uptrend is seen just after the trend of the coin came out of the choppy market, yesterday
  • The current price is retaining support from 50-day daily MA and is likely to regain 200-day MA support as well
  • The intraday appears to be quite a gainer for the coin as it gained a notable momentum

Cardano’s intraday bullish toll happens to be a plus point for the traders just when the market is red, otherwise.

Cardano Price Analysis

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ADA/USD Chart By TradingView

On the half-hourly chart, Cardano is drawing a positive trading picture against the US Dollar, and immediate support lies around $0.0348 to keep the uptrend active. We do not project any unprecedented volatility in the market, according to the 20-day Bollinger Bands laid. The price trend of ADA is hitting around the upper 20-day BB holding the intraday traction and support. If the price setbacks below $0.348, the coin is likely to have a hard time making a steady comeback as the market is highly volatile.

The technical indicators are drawing a bullish divergence as the MACD of Cardano crosses above the signal line due to notable and further projected trendline. Likewise, the RSI of the ADA coin lies at 58.56, and a further gain is likely to take it above 70 in the overbought region.

Mehak Punjabi

Mehak Punjabi is a post graduate in MBA with specialization in Finance and has joined CryptonewsZ with a skill building view in the world of cryptocurrency and blockchain. She is dynamic and a quick learner with a hold on financial analysis.

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