Cardano Price Technical Analysis ADA/USD is Bullish Again

Cardano Price Technical Analysis  ADA/USD is Bullish Again

Key Highlights


ADA price started a nice upside move and traded above the $0.2000 level against the US Dollar (tethered).
There is a major ascending channel forming with support at $0.2000 on the hourly chart of the ADA/USD pair (data feed via Bittrex).
The pair may correct a few points, but it remains supported above the $0.2000 and $0.1800 levels.

Cardano price is gaining upside momentum against the US Dollar and Bitcoin. ADA/USD is likely to remains in a bullish zone as long as it is above $0.1800

Cardano Price Trend

After a major decline, ADA price formed a decent support above $0.1500 against the US Dollar. The price started an upside move and traded above the $0.1600 and $0.1800 resistance levels. The upside move was positive as the price even traded above the $0.2000 level. It is now trading well above the $0.1800 level and the 100 hourly simple moving average.

It recently traded as high as $0.2172 and is facing a minor resistance. It may correct a few points with an initial support around the 23.6% Fib retracement level of the last wave from the $0.1751 low to $0.2172 high. There is also a major ascending channel forming with support at $0.2000 on the hourly chart of the ADA/USD pair. The channel support is around the 38.2% Fib retracement level of the last wave from the $0.1751 low to $0.2172 high. Therefore, if the price corrects lower, it could find support near the $0.2000 level.


Below $0.2000, the previous major resistance at $0.1800 will most likely act as a support. On the upside, the $0.2150-70 zone is a short-term hurdle. Above $0.2170, the price may break the $0.2200 level for a run towards the $0.2500 level.

Hourly MACD The MACD for ADA/USD is now placed well in the bullish zone.

Hourly RSI The RSI for ADA/USD is currently well above the 60 level.

Major Support Level $0.2000

Major Resistance Level $0.2200

Charts courtesy Trading View

21.03.2018 / 01:24 14
Bitcoin Cash Price Technical Analysis  BCH/USD Could Move Higher Bitcoin Cash Price Technical Analysis
Key Points Bitcoin cash price is slowly gaining pace and is currently trading above $950 against the US Dollar. There was a break above a major
Cardano Price Technical Analysis  ADA/USD Facing Crucial Resistance Cardano Price Technical Analysis
Key Highlights ADA price after a sharp decline below $0.20 found support near $0.1250 against the US Dollar (tethered). There was a break above a key
Cardano Price Technical Analysis  ADA/USD Remains at Risk Cardano Price Technical Analysis
Key Highlights ADA price declined sharply and is currently trading well below the $0.20 level against the US Dollar (tethered). There is a short-term
Cardano Price Technical Analysis  ADA/USD Could Test $0.25 Cardano Price Technical Analysis
Key Highlights ADA price is slowly rising higher and is currently trading above the $0.2100 support against the US Dollar (tethered), but faced
Cardano Price Technical Analysis  Can ADA/USD Break This? Cardano Price Technical Analysis Can
Key Highlights ADA price recovered from the $0.1850 swing low against the US Dollar (tethered), but faced sellers near $0.2230. There was a break
Cardano Price Technical Analysis  ADA/USD Tumbles Below $0.20 Cardano Price Technical Analysis
Key Highlights ADA price declined further and it even failed to hold the $0.20 support against the US Dollar (tethered). There is a crucial bearish
Comments (0)
Add a comment
Comment on