- According to Cardano’s short-term technical chart, the price is moving below the level of $0.3069 and if the closing continues below this resistance level, the decline can continue to the support level of $0.2920.
- However, if the ADA price encounters strong buying reactions from the support level of $0.2920, it can start the uptrend and move towards the level of $0.3250. It is important for the uptrend to close above the resistance level of $0.3069 on an hourly basis.
- In the daily technical chart, Cardano is moving below the support zone of $0.3051 and if the daily closing continues below this level, the downtrend can expand to the support zone of $0.2962 – $0.2892.
When examining Cardano’s technical chart, movements below the resistance level of $0.3069 are an important observation in the short-term chart, while movements below the level of $0.3051 are focused on in the daily chart.
Medium-Term ADA Price Analysis
Daily ADA/USD Price ChartWhen examining Cardano’s daily technical chart, it can be seen that the price is moving below the important support zone of $0.3051. If the ADA price continues to close daily below this level, the downtrend can expand to the important support zone of $0.2962 – $0.2892.
However, if the ADA price encounters strong buying reactions from the support range of $0.2962 – $0.2892, it can start its uptrend from this support zone and first reach the level of $0.34, and then the levels of $0.375.
On the other hand, if the ADA price closes daily below the level of $0.285, it may have the potential to continue its decline to the levels of $0.268 mentioned in the analysis. Therefore, Cardano investors should carefully monitor the support range of $0.2962 – $0.2892 and closely examine the strong buying reactions that may come from this support zone.
Short-Term ADA Price Analysis
When examining Cardano’s short-term technical chart, it is observed that the price continues its downward movement below the important resistance line of $0.3069. If ADA coin continues to close hourly below this resistance level, it can continue its decline to the support range mentioned in the analysis.
However, if the ADA price experiences a drop to the support level of $0.2920 mentioned in the analysis, it can start its uptrend from this region and move towards the level of $0.3250 along with strong buying reactions it will encounter.
In order to achieve this uptrend, it is important for it to close hourly above the level of $0.3069. If hourly closings occur above the specified resistance zone, it may want to continue the uptrend and reach the level of $0.3250. Additionally, if ADA closes above the level of $0.33 on a 2-hourly basis, it can expand its uptrend to the levels of $0.3373.
