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Home»Analysis»Cardano (Ada) Bulls in action – Is a new upward run starts?
Analysis

Cardano (Ada) Bulls in action – Is a new upward run starts?

2025-02-17No Comments3 Mins Read
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Cardano price started a new rally above $ 0.750 zone. Ada now consolidates profits and can strive for a new movement above the level of $ 0.80.

  • ADA -Price started a new rally above the levels of $ 0.720 and $ 0.750.
  • The price is traded above $ 0.750 and the 100-hour simple advancing average.
  • There was a break over an important bearish trend line with resistance at $ 0.770 on the hourly table of the ADA/USD pair (data source of Kraken).
  • The couple can start a different increase if it knew the $ 0.80 resistance zone.

Cardano -Price climbs above $ 0.750

After forming a base above the level of $ 0.720, Cardano started a new rally that defeated Bitcoin and Ethereum. Ada was able to erase the resistance levels of $ 0.750 and $ 0.80.

It even rose above the level of $ 0.820. A high was formed at $ 0.8286 before there was a narrow correction. The price tested the $ 0.7620 zone and recently started a new increase. It knew the resistance of $ 0.780. There was a movement above the 50% FIB racement level of the downward correction of the $ 0.8286 Swing high to $ 0.7621 low.

There was also a break over an important bearish trend line with resistance at $ 0.770 on the hourly table of the ADA/USD pair. Cardano price is now traded above $ 0.780 and the 100-hour simple advancing average.

At the top, the price facial resistance near the $ 0.80 zone or the 61.8% FIB racement level of the downward correction of the $ 0.8286 swing can be high to the layer $ 0.7621 layer. The first resistance is almost $ 0.820. The next key resistance can be $ 0.850.

See also  XRP Price Now Enters the DCA Buy Zone: Crypto Analyst

Cardano -Price

If there is an end above the resistance of $ 0.850, the price can start a strong rally. In the case mentioned, the price could rise to the $ 0.90 region. More profits can ask for a movement for $ 1.00 in the short term.

Another decline of Ada?

If the price of Cardano does not climb above the resistance level of $ 0.80, this can start a new decrease. Immediate support on the disadvantage is near the level of $ 0.7750.

The next major support is near the level of $ 0.7620. A downward break below the level of $ 0.7620 can open the doors for a test of $ 0.750. The next major support is near the level of $ 0.720 where the bulls could arise.

Technical indicators

MACD per hour – The MACD for ADA/USD is gaining strength in the bullish zone.

Picly RSI (Relative strength -Index) -The RSI for ADA/USD is now above 50 -level.

Important support levels – $ 0.7750 and $ 0.7620.

Important resistance levels – $ 0.8000 and $ 0.8200.

Source link

action ADA Bulls Cardano run Starts upward
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