Cardano Technical Analysis: ADA Flips 50-day SMA From Resistance To Support

Daily Cardano ADA Price Analysis

Last Updated July 23rd 2021
2 Min Read
  • Cardano price needs to overcome resistance barrier at the 20-day SMA.
  • ADA rose after flashing red-nine candlestick in the TD sequential detector.
  • Between April 16 and April 25, the Cardano price crashed from $1.48 to $1.09, losing almost $0.40 in the process. During this downward plunge, ADA managed to flip the 20-day and 50-day SMAs from support to resistance.

    Cardano Price Rises After Flashing Buy Signal

    This Sunday, the Cardano price flashed a buy signal in the form of a red-nine candlestick in the TD sequential detector. This prompted the buyers to take control this Monday and shoot ADA up to $1.21. In the process, it managed to reverse the 50-day SMA from resistance to support.

    Image: ADA/USD daily

    Cardano Daily Chart

    Cardano price faces an immediate resistance barrier at the 20-day SMA ($1.26). Previously , at this level, over 116,000 addresses had purchased around 2.5 billion ADA tokens.

    Image: IntoTheBlock

    Cardano Volume Chart

    ADA Payments Now Available to Merchants Using Shopify or WooComerce

    Crypto payment processor NOWPayments recently announced that it has integrated support for Cardano. Essentially, this means that their plugins for various e-commerce solutions, such as Shopify and WooCommerce, now support $ADA payments. 

    Jeremy Fister, a Project Manager at Cardano, took to Twitter to share the news.

    Cardano Tweet

    One of the first online merchants to announce that they now accept $ADA payments was CryptoSupreme, which sells Cardano-themed merchandise. 

    Cardano Tweet

    Another online merchant that announced that it was using one of the plugins from NOWPayments to support $ADA payments was Overland The Americas. 

    Cardan Price Is Expected To Reach These Levels

    The Cardano price needs to flip the 20-day SMA and climb up to the $1.36 resistance wall.

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