Home Cardano Price Analysis: ADA/USD flies up by 13.85% amid bullish dominance
Crypto News

Cardano Price Analysis: ADA/USD flies up by 13.85% amid bullish dominance

FX Street
Published date:
  • ADA/USD finds immediate resistance at the SMA 200 curve.
  • ADA/USD has broken above the 20-day Bollinger Band, indicating that it is currently overpriced.

ADA/USD daily chart

ADA/USD spiked up from $0.036 to $0.041 this Thursday as the bulls retained control for the third consecutive day. In the process, the price broke above both the pennant formation and the 20-day Bollinger Band. The latter shows that the asset is currently overvalued and may face bearish correction soon. The price faces immediate resistance at the SMA 200 curve. The MACD indicates increasing bullish momentum, while the RSI has spiked up and reached the edge of the overbought zone.

 

FX Street

FX Street

FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions.

WARNING: The content on this site should not be considered investment advice and we are not authorised to provide investment advice. Nothing on this website is an endorsement or recommendation of a particular trading strategy or investment decision.  The information on this website is general in nature, so you must consider the information in light of your objectives, financial situation and needs. Investing is speculative. When investing your capital is at risk. This site is not intended for use in jurisdictions in which the trading or investments described are prohibited and should only be used by such persons and in such ways as are legally permitted. Your investment may not qualify for investor protection in your country or state of residence, so please conduct your own due diligence or obtain advice where necessary. Crypto promotions on this site do not comply with the UK Financial Promotions Regime and is not intended for UK consumers. This website is free for you to use but we may receive a commission from the companies we feature on this site.

© forexcrunch.com All Rights Reserved 2017 – 2026