TA: ADA Price recovers to $0.502 amid rising selling pressure
TA: ADA Price recovers to $0.502 amid rising selling pressure
The Cardano price analysis reveals that the continued positive trend has caused the cryptocurrency price to move upward. The price value increased up to $0.502 in the most recent hours, continuing the upward momentum. Technical indicators indicate that the bullish momentum is currently slowing down, and a correction may possibly occur in the ensuing hours.
ADA/USD 1-day price chart: ADA gains 2.34 percent
According to the 24hrs Cardano price analysis, the price has increased further today. The bulls, who have been able to effectively continue their winning strikes, have made it possible. The bulls have raised the price value to $0.502 after gaining 2.36 percent over the previous 24 hours. Over the last seven days, the currency has seen a 7.2 percent growth in value.
The Moving Average (MA) value, which is now set at $0.481, is still above the price. The greater area covered by the Bollinger bands has led to increased volatility, which portends greater price swings in the future.
The 24hrs price chart's Bollinger band indicator shows the following numbers: the upper band is showing a value of $0.639, which denotes resistance, while the lower band is showing a value of $0.401, which denotes support for the Cardano price. Last but not least, there appears to be bearish resistance near index 47 as the Relative Strength Index (RSI) curve has been flattening out.
Cardano price analysis conclusion
Given that it has increased to $0.502, as shown by the following 24hrs Cardano price analyses, there is a gain in price value today. Although the last two days have been quite bullish for them, the most recent update has also been very bullish for them. Today's positive momentum, however, is feeble, and there are obvious opportunities for a correction to begin at any moment.
