The latest Cardano price analysis is giving bullish hints as it shows that the price has undergone a revival once again, and the green candlesticks are increasing on the daily chart as an uptrend is taking shape after the previous week’s stronger corrections. The price function has been showing some signs of improvement, but the bulls are still attempting to regain their momentum today. The price may surpass where it is now in the hours to come after the correction ends, which has been taking place for the last eight hours.
ADA/USD 1-day price chart: Bullish attempts uplift price to $0.411
The one-day Cardano price analysis is confirming an upturn in price as the bulls have been successful in recovering the coin’s value. The ADA/USD value has been revived once again, as the coin is trading at $0.411 at the time of writing, After gaining a value of more than six percent if observed over the last 24 hours, the coin reports a gain of 2.21 for the past seven days as well. As of now, the bullish momentum is resurging as the cryptocurrency’s price has continued to recover, but the trading volume is still down by 5.85 percent.
The moving average indicator (MA) is showing its value at $0.397 below the price level in the one-day price chart. The SMA 20 is still trading below the SMA 50, which shows bearish pressure on the coin’s price function. The volatility is also high, with the upper Bollinger band present at the $0.454 mark representing the resistance, whereas the lower Bollinger band is present at the $0.365 mark representing the support. The Relative Strength Index (RSI) indicator is showing signs of an uptrend in the market as it trades at index 54 with an upward curve.
Cardano price analysis: Recent developments and further technical indications
The four-hour Cardano price analysis confirms that a bullish trend has been taking place overall. The price breakout was also upwards today, and bulls performed well, but selling pressure also intervened during the day. When the price recovered to $0.413 the selling pressure returned, and since the price has been under correction for the last eight hours However, bears have been unable to shift the trend in their favor, as the overall trend has been upwards until now. The moving average value in the four-hour price chart stands at $0.406.
The Bollinger Bands indicator is dictating an average of $0.396, showing high volatility. Whereas its upper value is resting at $0.421 and the lower value is at 0.370. The RSI score has slightly decreased to index 57 as well because of the recent selling pressure.
Cardano price analysis: Conclusion
The one-day and four-hour Cardano price analysis is showing signs of a bullish recovery as the price recovered up to $0.411 today. The Bulls are again trying to revive their momentum. If the purchasers’ support is persistent, the price will aim for higher levels in the hours to come, as the price may break above $0.415 resistance in the next trading session.
