Cardano Moves towards the Resistance at $0.050 after a 1.90% Push

  • Cardano is currently being traded around $0.0495 after an overnight gain of 1.90%
  • It may continue with the current bullish trend and reach the next halting point at $0.0501.

ADA coin seems to recover from the dark phase that lasted for days. Over the last 24 hours, it has been beefed up by 1.90% and is currently trading around 0.049563 USD.

Cardano Price Analysis

Cardano was trading at $0.0486 at the opening of the day, and over the next 8 hours and 15 minutes, its value got boomed by 3.45% to mark an intraday high of $0.05031. It was followed by a quick price correction to the extent of 4.68%, and this swing pulled the value down to $0.047950. The last variation happened between 16:03 UTC and 00:39 UTC today, when the coin got another hype of 4.06%, to trade at $0.0498.

Cardano News
ADA/USD Chart By TradingView

Cardano’s current value at $0.0495 is lagging behind its 50 days MA (0.049705 USD) and 20 days MA (0.049654 USD), showing a dearth of steady support. The RSI of the coin is at 42.01 and withholds no trading extremities at present. We predict the next few days to witness a continuation of the current trend. Cardano may seek the next safe heaven at the resistance point of $0.0501.

Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

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