{"id":158537,"date":"2022-05-31T09:03:25","date_gmt":"2022-05-31T09:03:25","guid":{"rendered":"https:\/\/precoinnews.com\/?p=158537"},"modified":"2022-05-31T09:03:25","modified_gmt":"2022-05-31T09:03:25","slug":"cardano-ada-price-analysis-rally-could-extend-above-0-65","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/cardano-ada-price-analysis-rally-could-extend-above-0-65\/","title":{"rendered":"Cardano (ADA) Price Analysis: Rally Could Extend Above $0.65"},"content":{"rendered":"
Cardano price is recovering above $0.50 against the US Dollar, similar to bitcoin. ADA price could gain bullish momentum if it clears $0.615 and $0.620.<\/em><\/p>\n This past week, cardano price saw a fresh decline from the $0.615 resistance zone against the US Dollar. The ADA\/USD pair traded below the $0.55 and $0.50 support levels to move into a bearish zone.<\/p>\n The price settled below $0.50 and the 55 simple moving average (4-hours). It even spiked below the $0.48 level and traded as low as 0.4449. The price is now correcting losses and trading above the $0.520 level. There was a move above the 61.8% Fib retracement level of the downward move from the $0.614 swing high to $0.444 low.<\/p>\n Besides, there was a break above a key bearish trend line with resistance near $0.522 on the 4-hours chart. On the upside, an immediate resistance is near the $0.615 zone.<\/p>\n The next major resistance is near the $0.655 level. It is near the 1.236 Fib extension level of the downward move from the $0.614 swing high to $0.444 low. A clear upside break above the $0.655 level might send the price towards the $0.71 resistance.<\/p>\n The next key resistance might be near the $0.732 level. Any more gains could start a steady increase towards the $0.80 level in the near term. On the downside, an immediate support is near the $0.565 level.<\/p>\n The next major support is near the $0.52 level. If there are additional losses, the price may perhaps decline towards the $0.50 support level. A break below $0.50 could push the price towards the $0.45 level.<\/p>\n <\/p>\n Cardano (ADA) Price<\/p>\n The chart indicates that ADA price is now trading above $0.52 and the 55 simple moving average (4-hours). Overall, the price could continue to move rise if it settles above the $0.615 resistance zone.<\/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 above the 70 level.<\/p>\n Key Support Levels \u2013 $0.565 and $0.520.<\/p>\n Key Resistance Levels \u2013 $0.615 and $0.655.<\/p>\nCardano Price Analysis<\/h2>\n
Technical Indicators<\/h2>\n