Cardano price Today’s analysis is bullish, as we expect current sideways behavior to end with an upward retest. Therefore, the ADA / USD should be retested upwards again and considered reaching further upwards over the weekend.
The market has been trading in the red for the past 24 hours and has seen full retracement. Leader Bitcoin lost 3.85%, Ethereum 1.84%. Meanwhile, the rest of the market continued closely.
Cardano price movements over the last 24 hours: Cardano finds support at $ 0.48
The ADA / USD traded between $ 0.4772 and $ 0.5129, indicating moderate volatility over the last 24 hours. Trading volumes fell 35.77% to a total of $ 1.05 billion, with a market capitalization of approximately $ 16.58 billion, and coins ranked eighth overall.
ADA / USD 4-hour chart: Is ADA ready to continue rising?
The 4-hour chart shows clear support of $ 0.48 overnight and subsequent integration, as shown below. Cardano Prices are about to reverse again.
Cardano’s price behavior has seen a strong rise over the past week. After a pivot that exceeds $ 0.415 support, the ADA / USD will raise some waves until the height of the previous swing breaks, Current maximum is $ 0.54 It has arrived.
From there, a low reaction immediately follows, indicating that a reversal will occur next. The push lower certainly continued quickly as ADA fell by more than 12%.
Since then, Cardano prices have leveled off with support of around $ 0.48. Given how much profit was previously made, it could drop further towards the next support of $ 0.46. However, given that the overall weekly market structure is very bullish, a reversal is the most likely option.
Cardano Price Analysis: Conclusion
Cardano price analysis It’s bullish today as we saw an integration of about $ 0.48 after a strong retrace of over 12%. Therefore, we assume higher lows have been set and the ADA / USD is about to rise again later in the weekend.