Cardano price analysis: Is ADA gearing up to recover beyond $1.2 overnight?

Cardano price analysis: Is ADA gearing up to recover beyond .2 overnight?
  • In a nutshell,
  • In the past 24 hours, the price of Cardano has risen from $1.16 to $1.18.
  • In the past 24 hours
  • , the price has changed by about 1.51%.
  • Despite the modest net rise in price over the last 24 hours
  • , overall resistance

remains strong today.

  • In the next hours, Cardano price analysis is anticipated to fluctuate between $1.15 and $1.2.
  • Due to strong resistance,
  • Cardano is unlikely to reach $1.25 today

.

Since the price dropped from $1.40 to $1.32 on July 8th, our Cardano price research revealed an overall negative trend. Since then, the ADA/USD pair has been unable to break over the $1.40 barrier. After being negative for the previous five days, the market has begun to show indications of recovery in the past two days.

Coin360’s cryptocurrency heat map

Almost all cryptocurrencies in the crypto market are now trading in a positive mood. The price of Bitcoin has increased by 0.13 percent. The Ethereum trend, on the other hand, has increased by 3.83 percent. DOT, VET, XRP, LTC, and other cryptocurrencies seem to be following a similar pattern.

TradingView’s Cardano Price Chart

 

Our Cardano price research shows that the market has a high probability of recovering based on the 1-day graph. This rebound, though, would be minor until another bearish train arrives. On the 1-day graph, the RSI curve is nearing 36 levels.

The market may be somewhat undervalued right now. The increasing slope of the curve, on the other hand, suggests that things are about to become better. However, according to Cardano price research, the MACD analysis indicates strong resistance

, thus this may be short-lived.

Analysis of Cardano’s Price in the Last 24 Hours

TradingView’s Cardano Price Chart

 

The price of ADA/US has risen from $1.16 to $1.18 in the past 24 hours, with virtually little fluctuation. There has been a substantial fluctuation on a lesser scale. However, while being good, the improvement may be too modest in the larger view.

Cardano is presently ranked 5th in the market, with a total market capitalization of $38,057,863,621. In the past 24 hours

, the price has changed by 1.51% on average.

The RSI is quickly rebounding after reaching 45 on the hourly graph. It is now at 47 levels, but the increasing slope indicates that it will rebound in the next hours. The MACD analysis, however, shows a strong level of resistance, with the histograms in the reds.

The strong resistance may easily overwhelm the bullish sessions, causing the bulls to tyre themselves before ADA even reaches $1.25

.

Will Cardano Fall Beyond $1.16 Support? ADA/USD 4-Hour Chart — Will Cardano Fall Beyond $1.16 Support?

TradingView

‘s Cardano Price Chart

The market has experienced an overall negative mood in the past 4 hours, according to our Cardano price analysis of the 4-hour graph. The RSI curve is presently hovering around 44. The quickly falling slope, on the other hand, may be reason for worry.

The MACD analysis, however, indicates a bullish upswing with green histograms. On a longer period, this implies that bullish momentum is strong. As a result, a modest rebound is likely. In any case, Cardano is unlikely to go below the $1.16 support level. For the time being, it is the ideal location for both buyers and sellers. Another brief bull run is anticipated after the price

reaches $1.16.

Conclusion of the Cardano Price Analysis

Even if there are modest bullish bouts in a single hour or two, the price is not likely to rise much in the long run. Instead, Cardano is likely to remain in a tight range between $1.16 and $1.2 in the next hours.

For the time being, the market seems to be undecided. The next several days will determine whether or not the market can retreat substantially. But, for the time being, the chances for recovery do not seem to be promising.

Disclaimer. The material on this website is not intended to be trading advice, and.com assumes no responsibility for any investments made as a result of the information on this page. Before making any financial choices, we highly advise doing independent research and/or consulting with a competent expert.

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