- Cardano coin is presently trading near the final supply zone of $1.80 to $1.90, which is supporting by Short term moving average of 20 & 50-Day
- The coin is looking strong over the monthly chart and has strength as sustaining above 20, 50, 100 and 200-Day moving averages
- The pair of ADA/BTC is up by +2.45% CMP at 0.00004781 BTC, whereas the ADA/ETC is trading at 0.0006729 ETH gains over +3.87%
Cardano coin over the monthly chart highlights good strength, and it still looks bullish for medium-long term horizon. Whereas the digital asset is trading above all vital moving averages (MA) of 20, 50, 100 and 200-Day while 20 and 50-DMA are acting as short term support.
The supply zone on the higher side is also noticed, and the coin experiences multiple rejections. For a positive or bullish rally, ADA must suppress the supply zone with a good volume action. Moreover, the volume also needs to improve as it falls below the average line. Support on the lower side is at $1.51 and $1.64; likewise, levels of $1.88 and $2.05.
Cardano Coin Price Projecting a Gradual Uptrend
The weekly chart of the Cardano coin is projecting a gradual uptrend heading towards the strong resistance or rejection zone. Volume over the weekly chart is near the average line and needs to improve enormously. At the same time, the technical parameters or indicators highlight a gradual uptrend or bullish trend in the short term.
Presently, ADA is trading at $1.72 with intraday gains of +0.38%, and the volume to market cap ratio is at 0.0745. The crypto asset is standing at 4th position with a total market cap of $55,202,702,038.
Relative Strength Index (BULLISH): Cardano coin RSI is presently projecting bullish momentum over the weekly chart, trading at 59 levels.
Moving Average Convergence Divergence (MIXED) currently indicates a mixed trend on the daily chart. The buyer’s signal line (green) and the seller’s line (red) overlap each other.
Support levels: $1.51 and $1.64
Resistance levels: $1.88 and $2.05.