Cardano (ADA) Finally Breaks The Resistance level of $0.03240 After Suffering Volatility

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Ayush Malviyahttps://www.thecoinrepublic.com/
Ayush Malviya has recently joined as a technical market reporter for Thecoinrepublic- the Leading cryptocurrency news site. He believes that there is a broad scope in Crypto market and blockchain. Thats why he loves to gather knowledge about it and like to analyse the market pattern.
  • Cardano ADA price manages to climb above the resistance level of $0.03240
  • There is an impressive gain of 5.46% in the prices and they are facing a downtrend near the new resistance level of $0.03450 as they are unable to cross it.
  • The ADA/BTC pair is performing well as there is a profit of 92% bringing the levels to 0.00000 479.

The ADA prices started climbing gradually and tried to cross the resistance level of 0.03450 in their impressive upsurge today but they did not succeed and failed to maintain a gradual climb and got exposed downward momentum in the price levels.

The bulls get the momentum through their bold move of breaking down the crucial resistance level of $0.032400, it provided a major bullish momentum to ADA prices to achieve further heights but this upsurge was tested at the new resistance level where it fell off.

ADA prices are currently facing strong resistance near the levels of $0.03450. Currently, prices are trading below the level of 0.03410. If bears manage to break down the support level of $0.03400, there will be a short-term bearish dominance again at the ADA prices.

Cardano
Source:tradingview

Currently ADA’s market capitalization is $ 881,369,261 USD with volume traded of $94,426,437 USD and circulating supply of 25,927,070,538 ADA. 

There is a gradual increase in all aspects of the chart after having a negative session of trading prices started acquiring bullish momentum as there are chances bulls can again emerge strongly and can establish the upper hand in prices and can take them to further heights.

The technical indicators and oscillators showing that there is a heavy increase in the buying volume of the cryptocurrency, which is one of the major reason for today’s positive momentum in the chart.

MACD levels are showing bulls and bears are moving along each other but buying volume establishes an edge upon the aspect.

24hr-RSI is moving with a positive divergence from the bearish region to the overbuying region.

The 24hr-CCI is performing very good as it reaches the highest point possible and now it did acquire a negative momentum

Resistance Level $ 0.03400
Support level $0.0.3975

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