22 Sep 2022

CARDANO PRICE ANALYSIS CMP-$0.456: Bulls ready to breach the rounded top pattern


Cardano shows a positive trend, as the digital asset has started to trend upward following a period of consolidation below $0.43. 

CMP Price is $0.4560,up 1.54% from last 24 hours.

Cardano price analysis shows a positive trend, as the digital asset has begun to move upward after a period of consolidation below $0.43. Bulls in the ADA/USD pair have pushed the price over the $0.4650 resistance, indicating that further gains are on the way. The support level for ADA remains around $0.4325; a break below this level may cause the price to fall to the $0.4250 level soon, while a break above the $0.4650 resistance level could lead the price to move towards the $0.4900 area soon.

The Daily chart for Cardano price analysis shows an unexpected rise in price levels today. The bulls have broken over the sellers' barrier at $0.4483 and now have a higher value of $0.4650. This price is still higher than today's moving average (MA), which is $0.4515.

The four-hour Cardano price analysis shows that the bulls have successfully gained on the situation by gaining back the position. According to the four-hour price chart, the price breakout was higher, and bulls controlled for eight hours straight, taking the price up above $0.4500.

More buyers are expected for the ADA coin's price to start its recovery phase. The value of the digital currency has fallen below the 20, 50, 100, and 200-day Daily Moving Averages. After breaching the parallel channel, the ADA coin has returned above the top trendline of the consolidation phase.

The relative strength index shows clearly the upward momentum of the ADA coin. The RSI is moving in the direction of neutrality at 46. The MACD shows the consolidation period of the ADA coin. The MACD line moves in the direction of the signal line for a positive crossover. Investors in ADA should keep an eye on the daily price chart for any directional changes.

The Bollinger bands have started to diverge to accommodate the rising price, indicating support for the bullish trend. The higher value is now $0.4583, the lower value is $0.4375, and the average line is $0.4480.

The market capitalization of this ADA is estimated to be $15,589,258,267. The 24-hour trading volume for the coin is around $1,068,476,977. ADA market capitalization has risen by 0.79%. However, trade volume decreased by 32.32 % during intraday trading. The market capitalization to volume ratio is 0.06854.

The first major barrier is at $0.4650. The next major hurdle is $0.4800. Any more gains might open the door for a move towards the $0.5000 barrier in the near term. Above $0.5000, ADA may soon hit $0.5250 level.

If ADA fails to break over the $0.4650 barrier level, it may continue to fall to $0.4400. On the downside, the initial support level is $0.4200. The next major support level is $0.4000. If the price falls below $0.4000, it might fall below $0.3500.


RESISTANCE LEVEL : $0.4700-$0.4900

SUPPORT LEVEL : $0.4300-$0.4000

Will CARDANO break through and stay above the rounded top pattern? Are you paying attention to the pattern?