![]() The Bollinger bands are widening, indicating a high level of volatility ahead. The 4-hour technical indicators are also supporting the bullish trend. If bullish momentum continues, ADA is likely to test the resistance level of $0.3300 in the near term. The engulfing pattern suggests that buyers have taken control of the momentum and are likely to drive prices higher in the coming days. The 4-hour chart shows that ADA/USD has formed a bullish engulfing pattern on the hourly chart. Cardano price analysis: ADA forms a bullish engulfing pattern The Relative Strength Index (RSI) has also surged to 74, indicating that buyers are still in control and there is more upside potential. The 20-day EMA (Exponential Moving Average) has also crossed above the 50-day EMA (Exponential Moving Average), indicating that bullish momentum is likely to continue in the near term. The upper Band is at $0.335, which is likely to act as a resistance level for the bulls, while the lower band at $0.230 is likely to act as a support level for the bears. The Bollinger bands indicators appear to have expanded, indicating a high level of volatility ahead. The trend was supported by strong buying pressure, which saw prices rally to a high of $0.3296, which is acting as a strong resistance level for the bulls. The Cardano 1-day price chart shows that the ADA/USD pair broke out from its range of $0.3000 support level and surged strongly higher. Cardano price analysis 1-day price chart: Bullish momentum looks set for a further upswing The high-volume breakout from the consolidation range suggests that bullish sentiment is likely to continue as more buyers enter the market. The volume on the upside has also increased significantly, indicating buyers’ conviction behind the surge in prices. The ADA price rallied and rose above $0.3200, up by more than 0.48% in a day’s trade. The bulls were able to sustain the momentum and close the day above the resistance level of $0.3300, which indicated that a bullish trend might continue shortly. The ADA/USD pair surged and broke out of its range of $0.3000 support level and touched a high of $0.3296.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |