Cardano Price Analysis: ADA Striggles To Break Into $1.15
Daily Cardano ADA Price Forecast
- Cardano price sandwiched between 20-day and 50-day SMAs.
- ADA on the verge of flashing buy signal in the daily chart.
Since March 18, the Cardano price dropped from $1.37 to $1.12, losing almost $0.25 in its overall valuation. During this drop, ADA managed to flip the 20-day SMA from support to resistance.
Cardano Price Struggles Flip 20-day SMA
The Cardano price is currently sandwiched between 20-day and 50-day SMAs. Over the last 4 days, ADA repeatedly tried to break above the 20-day SMA but failed. The TD sequential detector is on the verge of flashing the buy signal in the form of a red-nine candlestick.
Image: ADA/USD daily
Now, when you look at the IOMAP, the closest and strongest resistance barrier is at $1.15. Previously, 118,400 addresses had purchased 3.6 billion ADA tokens.
The 4-hour Cardano price has flashed three buy signals:
- The MACD shows increasing bullish momentum.
- The 20-bar SMA will flip from resistance to support.
- The parabolic SAR has flipped from bearish to bullish.
Image: ADA/USD 4-hour
Cardano Price Is Expected To Reach These Levels
The Cardano price is going to trend horizontally below the 20-day SMA