Cardano (ADA) Enters An Uptrend With Chances Of More Gains Short-term 

The price of ADA has moved further into the bullish zone. It broke the resistance at $0.1000 and $0.1050 against the USD. On the hourly price chart, a bullish trendline with support around $0.1020 was formed. Even if the pair retests the $0.1000 support level, buyers will most likely surface. The price of Cardano is doing well against Bitcoin and against the USD. Even if it is correcting lower, it will most likely be supported at $0.1000 and $0.0970.

Cardano (ADA) Price Analysis For August 29

After the price of Cardano formed a base above the support at $0.0900, it moved upside trading above the resistances at $0.0940 and $0.0950. Eventually, the buyers gathered enough momentum to push the price above the resistance at $0.1000. Cardano (ADA) traded as high as $0.1072 moving above the 100 hourly SMA. After it formed an impressive high at $0.1072, it started correcting downside. ADA declined below the 23.6% Fib retracement level of the last rise from $0.0939 to $0.1072.

Cardano (ADA) Price Today – ADA / USD

Name Price24H (%)
Cardano (ADA)
$0.028974
-3.04%

The price of ADA was supported above the $0.1000 level and it formed a bullish trendline near the $0.1020 support. Below this level, the 50% Fib retracement of the last decline from $0.0939 to $0.1072 was placed at $0.1006. There is a strong support at $0.1000 which will prevent losses and act as a buy zone short-term.

Cardano (ADA) Technical Analysis

The technical charts show that the price of ADA is strongly supported above $0.1000. Upside, there is resistance at $0.1060. If the price is able to break this resistance, it will most likely retest the high at $0.1072. After this level, the next significant resistance will be at $0.1100. The relative strength index is above 50 and the MACD on the hourly chart is in the bearish territory. The significant support is at $0.1000 and the significant resistance is at $0.1060.

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