Select Page

ADA Price Analysis: Cardano (ADA) Inches Its Way Towards a Bullish Break Of Falling Wedge | Video & Live Chart

ADA Price Analysis: Cardano (ADA) Inches Its Way Towards a Bullish Break Of Falling Wedge | Video & Live Chart
This article is added for educational purpose only. All credit goes to the respected author of this article. All In One Crypto App do not hold any liabilities of this article. You can get the source link at the end of the article content.
  • ADA price has held major support of $1.15 strongly
  • ADA Price has formed a large falling wedge pattern
  • ADA has failed to hold its 30 day MA

Cardano (ADA) Price Overview [Video]

Cardano (ADA) has had a rough last couple weeks as price has fallen nearly -25% to its major support. This price action was not out of the ordinary as the majority of the cryptocurrency market also fell as a result of BTC dropping to its $31,000 support level. Price has been stuck in a near 3 month downtrend as bears have not given up control. Although, there are some signs a trend change may be in the process. 

Subscribe Coingape TV for breaking Crypto News and Price Updates

Shown in green, Cardano (ADA) has been forming a falling wedge pattern the last 3 months. This pattern is similar to the one spotted on BTC & it is generally a bullish pattern. In the short term, bulls must break & hold the major resistance zone found at $1.20-$1.27 to have a shot at revival.

If ADA manages to break & hold this mark, we can then say price is out of its falling wedge pattern in a bullish way. This will likely cause a push to major resistance of $1.34.

Cardano Price Analysis: ADA/USDT 1 Day live Chart

If Cardano turns bullish in the short term, it must then tackle the 30 Day MA. This MA has held price down since the beginning of June. If bulls fail to do so, price will likely retrace back to its major zone of $1.20-$1.27. If this also fails, we can expect ADA to touch back to support of $1.20, $1.14 & $1.09, respectively. 

While looking at the RSI, we can see strength has been basically flat lined for months. This has created a descending channel like structure which needs a strong breakout to either side to have a confirmed trend change. The Stochastic RSI has been hanging out in oversold territory which is a sign a reset has occurred which may have set the stage for another bullish push.

ADA intraday levels 

  • Spot rate: $1.21
  • Trend: Bearish
  • Volatility: High
  • Support: $1.15
  • Resistance: $1.27

The post ADA Price Analysis: Cardano (ADA) Inches Its Way Towards a Bullish Break Of Falling Wedge | Video & Live Chart appeared first on Coingape.


Source: Coingape


All In One Crypto App presents a unique dynamic crypto course that allows you to become a profitable and successful trader. Download Now

Don't forget to share your review/suggestions for the android app.

All In One Crypto App is an execution-only service provider. The material provided on this website is for information purposes only and should not be understood as investment advice. Any opinion that may be provided on this page does not constitute a recommendation by All In One Crypto App or its agents. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. If you rely on the information on this page then you do so entirely on your own here


Select a Sub Category


All In One Crypto App

Made $234 profit with Free Signals from $50

This is the best useful app on my phone. Started trading with $50 and in 5 weeks I was up to $234 just with the free signals. I will recommend it to any new person that wants to try trading crypto. Link to Review

Asoluka Chimdindu

Free User
All In One Crypto App

Good Support

This app is one of the best for crypto currency trading signal for experts and beginal with free and premier with auto follow trading bot all the signal is excellent with accurate technical analysis and fundamental I really like the way they guide and support. Link to Review

olaplus olaplus

Premium User
All In One Crypto App

Accurate Trading Signals

I was premium member of this channel back in 2018 when there was no app. Thr signals were too good, more than 90% accuracy. Now with this app and newly introduced auto trading bot, it will be awesome. Too the moon. Link to Review

Yogesh Patil

Premium member
All In One Crypto App

Awesome and Accurate Signals

Very glad to use this app. The crypto signals was awesome and accurate with detailed explanation and visual information. The admin also helpful and nice. Link to Review

soon cheong

Free User
All In One Crypto App

User Friendly App

Signals are great. I love it. App also friendly to use… Nice job guys Link to Review

Olawunmi Dilureni

Premium Subscriber