- Cardano might smash resistance levels with more buying interest.
- The overall grip of the momentum is in the hands of bulls, price might surge if bulls maintain dominance.
- ADA/BTC is trading at 0.00005483 BTC with an intraday change of +3.00% and the ADA/ETH pair is trading at 0.0007986 ETH marking an intraday change of +2.69%.
Cardano Price is currently trading above the significant 100 and the 200 day moving averages. This is an indication of Bulls being in the steering. The price has the 50 day moving average as resistance where the bulls faced stiff suppression from the bears previously, but we might see the price breakout in the near future.
The Relative Strength Index (RSI) is suggesting a buying interest. The RSI line is approaching the normal zone from the oversold area thereby driving the interest of the buyers. The RSI line is expected to smash the normal zone and move up in the days to come.
The Moving Average Convergence Divergence (MACD) is indicating a bearish grip for the time being. The MACD and the Signal line are both below the Zero line but are now curving upwards and with more buying interest we might see both the MACD and Signal line above the Zero line with a shift of momentum.
The Fibonacci indicator is suggesting support at $2.058, $1.815 and $1.513 price levels. The resistance levels indicated by Fibonacci are at $2.649, $3.091. If the price manages to hold the $2.302 price level, we might see ADA surge in the near future.
NOTE: The moving average 50, 100 and 200 are in colour Yellow, White and Red.
The MACD line is coloured Blue and the Signal line is coloured Red.
The important support and resistance levels to keep an eye on are:
SUPPORT: $2.058, $1.815 and $1.513
RESISTANCE: $2.649, $3.091
TAKEAWAY: We might see the price of Cardano break the above mentioned resistances if it manages to hold the $2.302 price level.