Cardano Price Analysis: ADA Striggles To Break Into $1.15

Last Updated July 23rd 2021
1 Min Read

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.

ada/usd daily chart 032621

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.

ada/usd volume chart 032621

Image: IntoTheBlock

The 4-hour Cardano price has flashed three buy signals:

  1. The MACD shows increasing bullish momentum.
  2. The 20-bar SMA will flip from resistance to support. 
  3. The parabolic SAR has flipped from bearish to bullish.

ada/usd 4-hour chart 032621

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

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