Cardano's (ADA) price has risen and broken above the moving average lines, but has been halted by the 50-day SMA.
This is the third time buyers have attempted to maintain bullish momentum above the moving average lines.
ADA price long-term forecast: bullishFurthermore, if neither the bullish nor bearish scenarios occur, the cryptocurrency will remain caught between the moving average lines.
Technical Indicator
Key Resistance Zones: $1.20, $1.30, and $1.40
Key Support Zones: $0.90, $0.80, and $0.70
ADA indicator analysis What is the next move for Cardano?Cardano's price has resumed its bullish ascent above the moving average lines on the 4-hour chart. However, the positive momentum has stalled at the high of $0.265 as the altcoin falls.
ADA price is currently range-bound, above the $0.24 support but below the $0.265 resistance. Cardano will continue to rise if it retraces and remains above the moving average lines.
Disclaimer. This analysis and forecast are the personal opinions of the author. The data provided is collected by the author and is not sponsored by any company or token developer. This is not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by Coinidol.com. Readers should do their research before investing in funds.
