Cardano Price Prediction: 20-day SMA Comes In Rescue Of ADA
Daily Cardano ADA Technical Analysis
- MACD in the daily Cardano price chart shows increasing negative momentum.
- ADA 4-hour chart was about to flash a buy signal in the TD detector before it stopped from doing so.
Cardano price dropped from $1.37 to $1.19 between March 18th to March 20th. ADA price has found solid support at the 20-day SMA which has prevented it from going down over the last four days.
Cardano Price Sees Strong Resistance At $1.25
The Cardano price is trending around the $1.20 level and is stuck between the $1.25 resistance line and the 20-day SMA ($1.16). The MACD was on the verge of reversing from bearish to bullish but the signal and MACD lines had started diverging from each other, to show increasing bearish momentum.
Image: ADA/USD daily
As mentioned above, Cardano price has a strong resistance at $1.25, wherein 108,250 addresses had previously purchased 3.8 billion ADA tokens. On the downside, the 20-day SMA coincides with the $1.16 support zone, wherein 114,000 addresses had purchased 3 billion ADA tokens.
In the 4-hour Cardano price chart, ADA was about to flash the buy signal in the form of a red-nine candlestick in the TD sequential detector but it stopped from doing so.
Image: ADA/USD 4-hour
Cardano Price Is Expected To Reach These Levels
Cardano price will keep moving around $1.20.