2021-06-25 08:00:00

Cardano Price Analysis: ADA Coin Rebounds From $1.15 Support

  • The price trend of ADA coin is on an upward trend intraday.
  • ADA/BTC pair is trading negative by 1.5% at 0.00003931 BTC
  • The 24-hour volume in Cardano is $3.851 Billion

The daily technical chart of ADA coin rebounds from the EMA-200 and support level. According to the pivot level, the key support level in ADA coin is $1.15. However, if it does move higher, the key observational resistance is $1.70. In addition, the chart also has a Doji candlestick pattern, showing neutral movement with high reliability. 

The exponential moving average (EMA) composed of 200-EMA serves as reliable support for currency price changes. Investors can observe that the price moves above the red line, ensuring an upward trend in ADA until the price stays above the EMA.

The Stochastic RSI (bullish) with a value of K-59 D-36 presents a buy sign in the coin. Investors may perceive an inclining slope and a positive crossover in the index. It may remain in positive territory for future trading sessions.

Volume (6.76M) was lower than the 20-day moving average (30.81M). Traders are guiding buying pressure to bring their price levels into positive territory. Investors can also observe sufficient volume on the chart, which indicates that a big move is expected soon. 

The Parabolic SAR indicator also implies a sell signal during the session, and it will ensure a downward trend in ADA unless the yellow dot stays above the price candle.

Cardano (ADA) Coin Battle Of Bulls And Bears On Intraday 

ADA coin is at $1.35, with a daily gain of 1.0% and a weekly drop of 10.4%. In addition, price bounced above moving averages and the support level. The Stochastic RSI indicator shows a buy signal, and the traders have guided the moderate buying pressure. Therefore, the parabolic SAR indicator indicates a sell signal. Technically, the price is showing strength and sustains above the support level and EMA-200. Therefore, as with overall market sentiment, the trend remains bullish.

Resistance: $1.70

Support: $1.15

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