ADA Price Claims $0.40 And Recovery Could Soon Turn Into Rally

Name	Symbol	Market	Market Cap ($)	Algorithm
Cardano	ADAUSD	Crypto	14,831,613,618	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Cardano

ADAUSD

Crypto

14,831,613,618

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	0.0057	1.37%	0.4231	0.423	0.4233

Price Change

Price Change %

Current Price

Bid Price

Offer

0.0057

1.37%

0.4231

0.423

0.4233

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.4239	0.4129	0.4157	0.4174	0.236800 - 0.810200

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.4239

0.4129

0.4157

0.4174

0.236800 - 0.810200

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	14:27:32	642.05	0.4231	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

14:27:32

642.05

0.4231

USD

Price x Volume	Volume	Base Symbol	Related Pairs
3,043,954.89	7,300,364.65	ADA	ADAEUR	ADAGBP	ADABTC

Price x Volume

Volume

Base Symbol

Related Pairs

3,043,954.89

7,300,364.65

ADA Price Claims $0.40 And Recovery Could Soon Turn Into Rally

06/12/2023 6:28am

NEWSBTC

Cardano (ADA) is gaining pace above the $0.40 resistance. ADA could rally if there is a clear move above the $0.432 and $0.450 resistance levels. ADA price is moving higher above the $0.400 pivot level. The price is trading above $0.415 and the 100 simple moving average (4 hours). There is a key bullish trend line forming with support near $0.410 on the 4-hour chart of the ADA/USD pair (data source from Kraken). The pair could accelerate higher toward the $0.500 level or even $0.550. Cardano Price Starts Steady Increase After forming a base above the $0.3750 level, Cardano started a steady increase. There was a break above the $0.388 and $0.400 resistance levels, but ADA lagged momentum like Bitcoin and Ethereum. The price even climbed above the $0.420 resistance. A high was formed near $0.4293 and the price is now consolidating gains. It is trading above the 23.3% Fib retracement level of the upward move from the $0.3715 swing low to the $0.4293 high. ADA is now trading above $0.415 and the 100 simple moving average (4 hours). There is also a key bullish trend line forming with support near $0.410 on the 4-hour chart of the ADA/USD pair. Source: ADAUSD on TradingView.com On the upside, immediate resistance is near the $0.4250 zone. The first resistance is near $0.432. The next key resistance might be $0.450. If there is a close above the $0.450 resistance, the price could start a strong rally. In the stated case, the price could rise toward the $0.50 region. Any more gains might call for a move toward $0.550. Are Dips Supported in ADA? If Cardano’s price fails to climb above the $0.432 resistance level, it could start a downside correction. Immediate support on the downside is near the $0.4150 level. The next major support is near the $0.410 level and the trend line. A downside break below the $0.410 level could open the doors for a test of $0.388. The next major support is near the $0.372 level. Technical Indicators 4 hours MACD – The MACD for ADA/USD is gaining momentum in the bullish zone. 4 hours RSI (Relative Strength Index) – The RSI for ADA/USD is now above the 50 level. Major Support Levels – $0.415, $0.410, and $0.388. Major Resistance Levels – $0.432, $0.450, and $0.500.

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ADAUSD Cardano