Cardano Is in an Uptrend and Is Aiming for the $0.45 High
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Cardano (ADA) Price Long-Term Forecast: Bullish
The price of Cardano (ADA) surges ahead and is aiming for the $0.45 high .Following the minor retracement, the altcoin is currently trading below the resistance level. If the initial resistance at $0.40 is broken, the altcoin will rise as high as $0.45. When the cryptocurrency asset reaches the overbought zone at $0.40, it may start to fall. Bulls previously tested the resistance at $0.40 on October 29 and November 4 but failed. The altcoin kept moving down, reaching a low of $0.31. Cardano is back in the bullish trend zone as of right now.
Cardano (ADA) Indicator Analysis
Cardano is at level 72 on the Relative Strength Index for period 14. The altcoin made a retracement and then resumed its ascent. As long as the price bars are above the moving average lines, ADA is increasing. The daily Stochastic for Cardano is above 80 and moving in the right direction. Additionally, the market’s overbought area has been reached.
Technical indicators:
Major supply zones: $1.0, $1..05, $1.10
Major demand zones: $0.45, $0.40, $0.35
What Is the Next Move for Cardano (ADA)?
Cardano’s price is struggling below the $0.40 resistance level and is aiming for the $0.45 high The upward trend will resume once the resistance level is broken. ADA is once again becoming more expensive. The resistance level of $0.40 has stopped the upward trend.
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