- Cardano price at the monthly chart is trading near its short-term moving average of 20 and 50-Days lines, with a gradual decline in volume activity.
- The digital asset is comfortably trading above its major moving averages of 100 and 200-day lines, meanwhile struggling near its SMA of 20 and 50-DMA lines.
- The pair of ADA/BTC is trading at 0.00004486 BTC with a 24-hour minor loss of -1.48%, and the ratio of ADA/ETH is CMP at 0.0006535 ETH with an intraday gain of +0.67%.
Cardano price over the monthly chart is trading sideways near its short-term moving average line of 20 and 50-days. The digital asset is trying to suppress its minor hurdle of 20 and 50-day lines after getting good support from the 100-DMA line. Presently, the coin is trading above all medium to long term moving averages and creating a positive chart setup of bulls. We can see a good recovery in upcoming trading sessions once the token sustains above its SMA of 20 and 50-day line with supportive volume action.
Volume over the monthly chart is continuously declining and falls below its average volume line, which needs to grow strongly in upcoming trading sessions. Support on the lower side is $2.05 and $1.98, whereas resistance on the higher side is $2.35 and $2.51.
Cardano price is trading under the triangular pattern at weekly chart
Cardano price at the weekly chart is trading under the triangular pattern, while bulls are facing rejection of higher trend line. The coin is moving higher with higher highs and lower lows pattern, with a rising trend line. The technical parameters are presently trying to move higher with upcoming positive action. ADA token is trading at $2.21 with an intraday gain of +1.91%, and the volume to market cap ratio is 0.03004.
Relative Strength Index (BULLISH): Cardano price RSI is trading on a positive note after a gradual selloff from the overbought levels. The coin is currently trying to move towards the higher zone and CMP at 51.
Moving Average Convergence Divergence (BEARISH): The daily chart indicates a bearish trend at the 4-hour time frame. At the same time, the buyer’s signal line (green) is trading under pressure, while the seller’s line overpowers.
Support levels: $2.05 and $1.98
Resistance levels: $2.35 and $2.51.