Cardano Price Analysis: ADA Token Back Into Range-Bound Mode

  • ADA token price action consolidates on intraday session
  • The 24-hour volume in Cardano is $2.703 Billion
  • ADA/BTC pair is trading negative by 1.14% at 0.00003891 BTC

The daily technical chart of ADA token projects a flat trend. According to pivot points, ADA’s significant support level is $1.15. Whereas if it moves up, the primary resistance to watch is $1.70. Besides, at the time of writing, the chart also features a Doji star candlestick pattern displaying that both bulls and bears failed to gain control over price movement.

The Moving Average Exponential (EMA), consisting of 200-EMA, acts as unbroken support in the asset price movement. Investors may witness the price sustaining above the red line, so until the price rests above the EMA, it will assure a positive trend in Cardano.

The Stochastic RSI (Bearish) with a value of K-40 D-30 presents a sell signal in the coin. Investors may observe an inclining slant and a positive crossover in the index. It may remain in positive territory for future trading sessions.

The Parabolic SAR also suggests a buy signal on intraday, and Until the yellow dots remain below the price of candlesticks, it will assure a bullish trend in Cardano.

The volume of (3.199M) is beneath the Volume MA (34.55M) of 20-days. Thus, high buying pressure is required in Cardano to drive its price to higher levels.

Cardano ADA Token Stochastic Indicator Shows Sign of Positivity

ADA Token price traded at $1.56 with a 1.3% loss in the last 24-hour and 1.2% loss weekly. Moreover, the Cardano price is sustaining above the 200-EMA on an intraday session. In contrast, the market capitalization stands at $50.11 billion. Therefore, technically, investors can perceive The stochastic RSI indicator is showcasing a sell signal with a positive slope.

Moreover, low trading volume is being directed. Parabolic SAR intimates a buy signal. Additionally, the price change can be towards the resistance of $1.72 in upcoming sessions.

Resistance: $1.72

Support: $1.12

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