Cardano (ADA) prices remain on the uptrend, exceeding the moving average.
Cardano Price Long-Term Prediction: Bull
Altcoin rose, surpassing its expected price of $0.72. Today, ADA prices halted the upward trend and reached a high of $0.82 before retreating. Similarly, on May 23, Altcoin hit a high of $0.84 after receiving sales pressure again. Cardano was soaked but returned beyond the key support level of $0.54.
Altcoin’s upward future movement is questionable. The recent long height candle cores indicate the presence of sellers.
On the downside, Cardano was able to see the dip. The ADA price recovers when it drops and finds support more than the moving average line. Altcoin breaks through by increasing resistance at $0.82.
However, if the bear falls below the moving average line, Cardano will fall to a low of $0.54. Today, Cardano is trading for $0.80.
Cardano Price Indicator Analysis
The resistance zone has three long candle cores. This indicates there is considerable sales pressure in the resistance zone. The price bar is above the downward moving average line, but indicates it is rising. In the time frame, the moving average line is tilted north.
Technical indicators
Key Resistance Zone: $1.20, $1.30, $1.40
Key Support Zones: $0.90, $0.80, and $0.70
What will Cardano move next?
Cardano’s upward trend ended at a high of $0.82. Since May 10th, the upward movement has been stopped at $0.84 due to resistance. Cryptocurrency has been reversed three times in the resistance zone. There is a risk that ADA prices will continue to fall.
On the four-hour chart, ADA prices are trading above the 21-day SMA, but below the $0.82 level. If this level is broken, Altcoin will start a new trend.
As reported last week by Coinidol.com, bullish momentum fell below the $0.75 high after encountering resistance at $0.77.
Disclaimer. This analysis and prediction is the author’s personal opinion. They do not recommend buying and selling cryptocurrencies and should not be considered as approval by coinidol.com. Readers should do research before investing in funds.
