Cardano (ADA) Price Analysis: Signs Of Fresh Upside Above $0.0450

Cardano (ADA) Price Analysis: Signs Of Fresh Upside Above <img width=.0450" data-lazy-srcset="https://i2.wp.com/sudan4tech.com/wp-content/uploads/2019/10/Cardano-Price-1.png?w=1828&ssl=1 1828w, https://i2.wp.com/sudan4tech.com/wp-content/uploads/2019/10/Cardano-Price-1.png?resize=300%2C142&ssl=1 300w, https://i2.wp.com/sudan4tech.com/wp-content/uploads/2019/10/Cardano-Price-1.png?resize=768%2C365&ssl=1 768w, https://i2.wp.com/sudan4tech.com/wp-content/uploads/2019/10/Cardano-Price-1.png?resize=1024%2C486&ssl=1 1024w, https://i2.wp.com/sudan4tech.com/wp-content/uploads/2019/10/Cardano-Price-1.png?resize=720%2C342&ssl=1 720w, https://i2.wp.com/sudan4tech.com/wp-content/uploads/2019/10/Cardano-Price-1.png?resize=560%2C266&ssl=1 560w" data-lazy-sizes="(max-width: 1828px) 100vw, 1828px" data-lazy-src="https://i2.wp.com/sudan4tech.com/wp-content/uploads/2019/10/Cardano-Price-1.png?fit=1828%2C868&ssl=1&is-pending-load=1" srcset="data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7" />.0450"1828" height="868" src="https://i2.wp.com/sudan4tech.com/wp-content/uploads/2019/10/Cardano-Price-1.png?fit=1828%2C868&ssl=1" class="attachment-full size-full wp-post-image jetpack-lazy-image" alt="" data-lazy-srcset="https://i2.wp.com/sudan4tech.com/wp-content/uploads/2019/10/Cardano-Price-1.png?w=1828&ssl=1 1828w, https://i2.wp.com/sudan4tech.com/wp-content/uploads/2019/10/Cardano-Price-1.png?resize=300%2C142&ssl=1 300w, https://i2.wp.com/sudan4tech.com/wp-content/uploads/2019/10/Cardano-Price-1.png?resize=768%2C365&ssl=1 768w, https://i2.wp.com/sudan4tech.com/wp-content/uploads/2019/10/Cardano-Price-1.png?resize=1024%2C486&ssl=1 1024w, https://i2.wp.com/sudan4tech.com/wp-content/uploads/2019/10/Cardano-Price-1.png?resize=720%2C342&ssl=1 720w, https://i2.wp.com/sudan4tech.com/wp-content/uploads/2019/10/Cardano-Price-1.png?resize=560%2C266&ssl=1 560w" data-lazy-sizes="(max-width: 1828px) 100vw, 1828px" data-lazy-src="https://i2.wp.com/sudan4tech.com/wp-content/uploads/2019/10/Cardano-Price-1.png?fit=1828%2C868&ssl=1&is-pending-load=1" srcset="data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7" />.0450" data-lazy-srcset="https://i2.wp.com/sudan4tech.com/wp-content/uploads/2019/10/Cardano-Price-1.png?w=1828&ssl=1 1828w, https://i2.wp.com/sudan4tech.com/wp-content/uploads/2019/10/Cardano-Price-1.png?resize=300%2C142&ssl=1 300w, https://i2.wp.com/sudan4tech.com/wp-content/uploads/2019/10/Cardano-Price-1.png?resize=768%2C365&ssl=1 768w, https://i2.wp.com/sudan4tech.com/wp-content/uploads/2019/10/Cardano-Price-1.png?resize=1024%2C486&ssl=1 1024w, https://i2.wp.com/sudan4tech.com/wp-content/uploads/2019/10/Cardano-Price-1.png?resize=720%2C342&ssl=1 720w, https://i2.wp.com/sudan4tech.com/wp-content/uploads/2019/10/Cardano-Price-1.png?resize=560%2C266&ssl=1 560w" data-lazy-sizes="(max-width: 1828px) 100vw, 1828px" data-lazy-src="https://i2.wp.com/sudan4tech.com/wp-content/uploads/2019/10/Cardano-Price-1.png?fit=1828%2C868&ssl=1&is-pending-load=1" srcset="data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7" />


  • ADA price is currently correcting higher from the $0.0379 swing low against the US Dollar.
  • The price is trading above the $0.0400 support area and it could continue to rise above $0.0450.
  • There was a break above a major bearish trend line with resistance near $0.0390 on the 4-hours chart (data feed via Kraken).
  • The price is likely to continue higher above $0.0435 as long as it is above the $0.0380 support area.

Cardano price is slowly rebounding higher against the US Dollar and bitcoin. ADA price must break $0.0435 and $0.0450 to continue higher in the near term.

Cardano Price Analysis

In the past few days, cardano price consolidated above the $0.0365 support area against the US Dollar. The ADA/USD pair slowly moved higher and broke the $0.0380 resistance area. Moreover, there was a break above the $0.0400 resistance and the 55 simple moving average (4-hours). It opened the doors for more upsides above the $0.0405 resistance area.

During the rise, there was a break above a major bearish trend line with resistance near $0.0390 on the 4-hours chart. Finally, the price broke $0.0420 and recently traded as high as $0.0422. It is currently correcting lower and is trading near the $0.0410 level. An immediate support is near the $0.0400 level and the 50% Fibonacci retracement level of the recent rise from the $0.0379 low to $0.0422 high.

The main support on the downside is near the $0.0390 level and the 55 simple moving average (4-hours). Besides, the 61.8% Fibonacci retracement level of the recent rise from the $0.0379 low to $0.0422 high is likely to act as a strong support. Only a successful break below the $0.0380 support area could push the price back towards the $0.0365 support area.

On the upside, there are a few key hurdles forming near the $0.0425 and $0.0435 levels. A successful break above the $0.0435 resistance area could set the pace for more gains above the $0.0450 resistance area. The next key resistance is near the $0.0475 level, followed by the $0.0500 barrier.

Cardano (ADA) Price Analysis: Signs Of Fresh Upside Above <img class=.0450"alignnone size-large wp-image-56071 jetpack-lazy-image" src="https://i0.wp.com/www.livebitcoinnews.com/https://s3.amazonaws.com/lbn-s3/2019/10/Cardano-Price-1-1100x522.png?resize=1100%2C522&ssl=1" alt="Cardano Price Analysis ADA Chart" width="1100" height="522" data-recalc-dims="1" data-lazy-src="https://i0.wp.com/www.livebitcoinnews.com/https://s3.amazonaws.com/lbn-s3/2019/10/Cardano-Price-1-1100x522.png?resize=1100%2C522&is-pending-load=1#038;ssl=1" srcset="data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7">.0450" width="1100" height="522" data-recalc-dims="1" data-lazy-src="https://i0.wp.com/www.livebitcoinnews.com/https://s3.amazonaws.com/lbn-s3/2019/10/Cardano-Price-1-1100x522.png?resize=1100%2C522&is-pending-load=1#038;ssl=1" srcset="data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7">

The chart indicates that ADA price is slowly moving higher and is trading nicely above $0.0400 and $0.0390. Having said that, a clear break above the $0.0425 and $0.0435 resistance levels is must for an upside acceleration. If not, there is a risk of another drop below the $0.0400 and $0.0380 support levels.

Technical Indicators

4 hours MACD – The MACD for ADA/USD is losing momentum in the bullish zone.

4 hours RSI – The RSI for ADA/USD is currently correcting lower and is approaching the 50 level.

Key Support Levels – $0.0400 and $0.0380.

Key Resistance Levels – $0.0425 and $0.0435.

The post Cardano (ADA) Price Analysis: Signs Of Fresh Upside Above $0.0450 appeared first on Live Bitcoin News.



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