The most recent Cardano price analysis shows sideways price movement during the day as the price is slowly recovering. The price has been under the bearish shadow for the past two days, however, a recovery of the bullish momentum is seen today. The green candlestick on the price chart marks a bullish price move, but the candlestick is quite small due to the lower price gain. However, the ADA/USD value has risen to the $0.486 mark. Overall, the price has been trading in a defined range for the last two weeks and yet ADA has yet to break out of this cycle.
ADA/USD 1-day price chart: Bulls strain to lead
One-day Cardano price analysis confirms a rise in price for the day as the bulls have made a successful comeback. The green candlestick is an indication of growing bullish momentum, with ADA/USD price now trading at $0.486 at the time of writing. Further recovery is possible in the coming days if the bullish momentum extends. However, due to the bearish price movement, the coin is still down 2.4 percent over the past 24 hours. The moving average (MA) value of the cryptocurrency is now $0.485, just below the price.
Volatility is easing as the Bollinger Bands show signs of converging. The Bollinger Bands Indicator dictates the following values for the day; the top value is at $0.583 after traveling down, representing resistance, while the bottom value is at $0.416 after traveling up, representing support. The Relative Strength Index (RSI) score is fairly neutral, and the indicator is at the 44 index, showing horizontal movement that confirms the sideways movement of the price function.
Cardano Price Analysis: 4-Hour Price Chart and Other Technical Indications
The 4-hour Cardano price analysis shows that the price has progressed quite fast over the last four hours, and an increasing trend has been observed over the last hour as well. The latest uptrend has pushed the value of the coin up to the $0.486 mark, which is encouraging news for crypto buyers. The price breakout was to the downside at the beginning of the trading session, but the bullish momentum has brought the price back above the opening price, turning the trend up for the day so far. Additional buying activity will also continue in the coming hours if the bullish momentum intensifies.
The average value of the Bollinger Bands has remained at the $0.496 mark. Due to the increasing volatility, more uptrends can be expected in the coming hours. The upper Bollinger band value has now changed to $0.518, while the lower Bollinger band value has now changed to $0.475. The lower end of the indicator shows more divergence due to the downtrend seen in the last 40 hours. The RSI chart shows an ascending curve with an increase in the score up to the 46 index as the price has started to improve.
Cardano Price Analysis: Conclusion
The Cardano price analysis above confirms that the bulls have successfully moved away from the mounting bearish pressure by rallying the price back to the $0.486 level. This is great news for buyers as there will be more opportunities over the next week. Further intensification of the uptrend is expected if the upside momentum remains intact.
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