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. According to ADA cardano price prediction, 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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