Cryptocurrency News Today – Cardano price Analysis: ADA price May Test The Lower Support Of $0.78

• Cardano (ADA) moving towards the support of $ 0.77 while taking the support at the lower levels of supply zone
• The pair of ADA/BTC is trading on the Bearish note, presently trading at 0.00001958 BTC with an intraday loss of 0.46% 

Cardano (ADA) is trading on a bearish note and heading towards the next, while it has found support around $0.78. Presently ADA price is trading above all the major Exponential moving averages of 20,50,100 and 200, which indicates its strong uptrend. The support on lower levels is placed at $0.78 and $0.65, while $0.5 can be considered strong support. Resistance on the higher side is situated at $1.17. Likewise, the breakout above the $1.1 can lead ADA to $1.50 and $2.00. The volume is less supportive for the further upcoming trading session.  

Cardano(ADA) Technical Analysis

Cardano (ADA) is trading in a sideways trend as the price consolidation is observed. ADA price is presently trading above the supply zone and if it retains this level then it can become a strong support zone. The indicators are also supporting sideways trends. Currently, the coin trading at $1.02 with an intraday gain of 3.02%, while the volume recorded is dropped at 6.44%, standing at $10,869,815,954. The market capitalization stands at $46,417,968,437 with a gain of  3.97%.ADA is forming a bullish doji candle in today’s chart showcasing a sign for positive momentum.ADA/BTC pair is also performing positively and can see a further uptrend

Relative Strength Index (Bearish) indicates a bearish momentum while trailing at the value of 70.02.ADA is showcasing its presence in the overbought zone. It may slip to the lower level as there is no positive slope formed

Moving Average Convergence Divergence (Bearish) currently indicates a Bearish trend on the daily chart. The signal line has given a negative crossover and the bars are of very lower length showcasing a bearish momentum.

Technical Levels:

Support levels: $1.170 

Resistance levels: $0.78 

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