Cardano’s last week has been an exception to the sluggish market. Over the last seven days, it has been up by 26.48%, and the price has moved from $0.0238 to $0.0301. The currency may sustain this bullish trend in the short-term run.
Cardano Price Analysis
ADA coin was being traded at $0.023848 on March 13, and over the next day, it gained 22.70% and added $0.00541 in the value. It was followed by a 26.48% price correction that deducted 26.48% from the value and pulled the Cardano price down to $0.021514 by March 16. After hitting this low, between March 16 & 19, Cardano’s price was heightened by a massive hike of 48.94% and reached the weekly high point of $0.032042.
At the time of writing this analysis, the ADA price was at $0.030165, which is 0.65% and 1.57% less than the 20 days MA & 50 days MA, respectively. The RSI is still hovering around 33.98 points. It implies that investors’ confidence is yet to return significantly. As per the current momentum, Cardano may continue the upward movement and breach the next resistance at $0.033 in the coming few days. The medium-term outlook seems bullish for ADA coin. Investors may have to avoid the urge of panic selling.
|Cardano (ADA)||Resistance & Support Levels|