- The upward movement starting from the level of $0.25 is noticeable in ADA’s daily price chart.
- In technical analysis, daily closes above the level of $0.305 can support ADA’s rise.
- Big whales are planning to consider ADA’s decline to the levels of $0.28 – $0.27 as a buying opportunity.
When examining Cardano’s daily price chart, the upward trend stands out. According to technical analysis, ADA needs to surpass a certain resistance level in order to sustain its rise. Additionally, a decline zone that big whales are waiting for buying has also been determined.
Medium-Term ADA Price Analysis
Daily ADA/USD Price Chart
When examining Cardano’s daily price chart, it can be seen that it has risen from the level of $0.25 to around $0.30.
When analyzing Cardano’s technical chart, it is observed that in order to sustain the rise, it needs to achieve daily candle closes above the level of $0.305.
If the ADA price can achieve daily candle closes above the level of $0.305, it can continue the upward movement towards the level of $0.33. However, if the level of $0.305 cannot be broken, it may experience a decline and fall to the range of $0.28 – $0.27.
According to technical data, many big ADA whales are waiting to buy at the levels of $0.28 – $0.27. The ADA price falling into this range will be in line with an important Fibonacci support range.
When the ADA price reaches the range of $0.28 – $0.27, the whales plan to set a stop point with daily candle closes below the level of $0.257 and make spot investments.
Short-Term ADA Price Analysis
2-Hour ADA/USD Price Chart
When examining Cardano’s 2-hour technical chart, it can be seen that it has experienced a downward movement with selling pressure from the resistance zone and is currently trading around $0.2934.
If the ADA price fails to achieve 2-hour candle closes above the mentioned level of $0.304, it may continue the downward movement towards the level of $0.2748.
Cardano’s price can perform an upward movement towards the mentioned resistance zone. However, if it fails to achieve candle closes above the level of $0.304, it may experience another decline.
If the ADA price falls to the level of $0.2748 and achieves 2-hour candle closes above this zone, it can again perform an upward movement towards the level of $0.30. However, if the ADA price achieves 4-hour candle closes below the level of $0.2748, the downward target may be the level of $0.2648.
