Cardano (ADA) Strong Bullish Momentum Testing The Resistance Of $0.04800

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.
  • There is a gain of 3.78% in the prices and they are moving in a strong positive momentum above the price level of $0.04700.
  • The ADA/BTC pair is performing well as there is a positive change of 3.47% bringing the levels to 0.00000614.

The ADA prices started climbing gradually and did acquire the major resistance levels like $0.04600,  $0.047000, and $0.047500 with current positive divergence.

ADA is in the potential to cross the resistance level of 0.04800 if they maintain their current pace, as this will be able to continue their bullish momentum if they do so but bulls are presenting the resistance.

The bulls getting the momentum through the support level they did acquire while they were falling down, the crucial support level of $0.045400 had provided a major bullish momentum to ADA prices to achieve the strong heights of resistance levels. ADA prices are currently moving due to the support line of $0.4700

Currently ADA’s market capitalization is $1,233,292,152 USD with volume traded of $166,151,855 USD and circulating supply of 25,927,070,538 ADA.

Cardano (ADA) Price Analysis

ada1
Source:tradingview

There is a gradual increase in all aspects of the Cardano (ADA) chart as bulls are emerging but bears are also presenting the resistance. Prices started acquiring heavy bullish momentum but they did face bears at every crucial step and did overcome them, as there are chances bulls can again emerge strongly and can acquire the level of $0.48000 with current positive upsurge.

The technical indicators and oscillators showing that there is an increase in the buying volume of the cryptocurrency, as technical is turning blue and showing a positive result for ADA

MACD levels are showing bulls are having a tight competition with the bears as currently there is a major variation in momentum. The prices again acquired the green line but selling volume is not allowing them to pass easily.

24hr-RSI is moving with a slight negative trend in the heavy bullish region right above the crucial level of 65.

The 24hr-CCI is performing well as it reaches the heights of the overbuying region and then started falling towards the normal zone.

Resistance Level $ 0.048000
Support level $0.047000

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