{"id":104659,"date":"2018-02-12T03:00:42","date_gmt":"2018-02-12T08:00:42","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=104659"},"modified":"2021-08-28T02:49:42","modified_gmt":"2021-08-28T06:49:42","slug":"cardano-price-technical-analysis-can-ada-usd-break-0-38-0-40","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/cardano-price-technical-analysis-can-ada-usd-break-0-38-0-40","title":{"rendered":"Cardano Price Technical Analysis \u2013 Can ADA\/USD Break $0.38-0.40?"},"content":{"rendered":"

Key Highlights ADA price is holding the $0.3400 support very nicely and is currently moving higher against the US Dollar (tethered). There was a break above a connecting bearish trend line with resistance at $0.3625 on the hourly chart of ADA\/USD (data feed via Bittrex). The pair is likely to extend gains, but it won\u2019t be easy for buyers to break the $0.4000 resistance.<\/p>\n

Cardano price is slowly rising against the US Dollar and Bitcoin. ADA\/USD must clear the $0.4000 resistance to gain further upside momentum.<\/em><\/p>\n

Cardano Price Support<\/p>\n

There was a slow and steady upside<\/a> move formed from the $0.3200 low in ADA price against the US Dollar. The price traded above $0.4300 before correcting lower. The recent low was formed at $0.3395 from where the price started a fresh upside wave. A connecting bullish trend line with support at $0.3500 on the hourly chart of ADA\/USD acted as a support.<\/p>\n

The pair moved above $0.3600 and the 23.6% Fib retracement level of the last decline from the $0.4386 high to $0.3395 low. There was also a break above a connecting bearish trend line with resistance at $0.3625 on the same chart. However, the upside move was limited by the $0.3650-0.3700 area. Moreover, there was no complete test of the 38.2% Fib retracement level of the last decline from the $0.4386 high to $0.3395 low. It seems like the price is facing important resistance levels on the upside<\/a> at $0.3800 and $0.4000. The $0.4000 level is also the 61.8% Fib retracement level of the last decline from the $0.4386 high to $0.3395 low.<\/p>\n

Therefore, a break and close above $0.4000 is needed for buyers to push the price further higher. On the downside, the $0.3400-0.3500 support zone is a decent buy area.<\/p>\n

Hourly MACD \u2013 <\/strong>The MACD for ADA\/USD is slowly moving higher in the bullish zone.<\/p>\n

Hourly RSI \u2013 <\/strong>The RSI for ADA\/USD is just around the 50 level.<\/p>\n

Major Support Level<\/strong> \u2013 $0.3400<\/p>\n

Major Resistance Level<\/strong> \u2013 $0.4000<\/p>\n

 <\/p>\n

Charts courtesy \u2013 Cryptowat, Bittrex<\/a><\/p>\n

The post Cardano Price Technical Analysis \u2013 Can ADA\/USD Break $0.38-0.40?<\/a> appeared first on NewsBTC<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Key Highlights ADA price is holding the $0.3400 support very nicely and is currently moving higher against the US Dollar (tethered). There was a break […]<\/a><\/div>","protected":false},"author":168,"featured_media":104660,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-104659","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-more-crypto-news"],"acf":[],"yoast_head":"\nCardano Price Technical Analysis \u2013 Can ADA\/USD Break $0.38-0.40? - InsideBitcoins.com<\/title>\n<meta name=\"description\" content=\"Cardano price is slowly rising against the US Dollar and Bitcoin. 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