Cardano Price Analysis: ADA Targets $0.1 Price Level

Cardano Price Analysis: ADA Targets $0.10 Price Level

Resistance levels: $0.08, $0.09, $0.10

Support levels: $0.06, $0.05, $0.04

ADA/USD Long-term Trend: Bullish

ADA/USD is on the bullish trend on the Long-term outlook. The Bulls hold tenaciously to the ADA market. The Bulls increased their momentum and broke up the former resistance level of $0.06 as predicted last week and the coin broke up the resistance level of $0.08 today before it was interrupted by the Bears and the price fell below $0.08 price level. Currently, the coin is experiencing pullback towards the broken level.

The coin is making higher highs on the daily chart. The crypto is trading above the 21 periods EMA and 50 periods EMA with the distance between the ADA price and the EMAs. In addition, the two EMAs are well separated from each other to indicate a strong bullish momentum in the ADA market.

The Stochastic Oscillator period 14 is above 80 levels (overbought zone) with the signal lines point down to indicate sell signal; this sell signal may be a price retracement before the continuation of uptrend movement. ADA price will be rated higher above $0.08 resistance level in case the bull does not lose their momentum.

ADA/USD Medium-term Trend: Bullish

Cardano Price Analysis

ADA is on the bullish trend on the Medium-term outlook. The Bulls refused to give room for the Bears except on the pullback events. The Bulls increased their momentum and were able to break up the $0.06 and the price is currently exposed to the supply level of $0.08 price level.

On the 4-hour chart, the two EMAs are facing north direction with the coin trading above the 21 periods EMA and 50 periods EMA is an indication of strong bullish momentum in the market of ADA.

The Stochastic Oscillator period 14 is at 60 levels with the signal lines pointing up to indicate buy signal and the continuation of the uptrend.

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