{"id":122737,"date":"2021-04-27T09:38:52","date_gmt":"2021-04-27T09:38:52","guid":{"rendered":"https:\/\/precoinnews.com\/?p=122737"},"modified":"2021-04-27T09:38:52","modified_gmt":"2021-04-27T09:38:52","slug":"cardano-ada-price-analysis-fresh-increase-likely-above-1-30","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/cardano-ada-price-analysis-fresh-increase-likely-above-1-30\/","title":{"rendered":"Cardano (ADA) Price Analysis: Fresh Increase Likely Above $1.30"},"content":{"rendered":"
Cardano price is rising and trading above $1.200 against the US Dollar, similar to bitcoin. ADA price could accelerate gains once it clears the $1.300 resistance.<\/em><\/p>\n After a steady decline, cardano price found support near the $1.00 zone against the US Dollar. The ADA\/USD pair traded as low as $0.911 before it started a fresh increase.<\/p>\n There was a clear break above the $1.050 and $1.110 resistance levels. There was also a break above a major bearish trend line with resistance near $1.150 on the 4-hours chart. The pair is now trading above the $1.200 support and the 55 simple moving average (4-hours).<\/p>\n It broke the 50% Fib retracement level of the downward move from the $1.559 high to $0.911 low. It is now showing positive signs and trading nicely above $1.200.<\/p>\n An immediate resistance is seen near the $1.300 level. It is near the 61.8% Fib retracement level of the downward move from the $1.559 high to $0.911 low. The main resistance is near the $1.350 level. A clear break above the $1.350 resistance zone could set the pace for a sharp increase in the coming sessions.<\/p>\n The next stop for the bulls could be near the $1.500 level. Conversely, the price might start a downside correcting below the $1.240 level. The first key support is near the $1.200 level and the 55 simple moving average (4-hours). Any more losses might call for a bearish wave towards the $1.100 support zone in the coming sessions. The main support is still near the $1.00 zone.<\/p>\n <\/p>\n Cardano (ADA) Price<\/p>\n The chart indicates that ADA price is clearly trading nicely above the $1.200 level and the 55 simple moving average (4-hours). Overall, the price is likely to continue high above the $1.300 and $1.348 resistance levels.<\/p>\n 4 hours MACD \u2013 The MACD for ADA\/USD is now gaining pace in the bullish zone.<\/p>\n 4 hours RSI – The RSI for ADA\/USD is now well above the 50 level.<\/p>\n Key Support Levels \u2013 $1.200 and $1.100.<\/p>\n Key Resistance Levels \u2013 $1.300 and $1.350.<\/p>\nCardano Price Analysis<\/h2>\n
Technical Indicators<\/h2>\n