CryptoPotato
CryptoPotato
  • Crypto News
  • Margin Trading
  • Guides
    • Bitcoin & Crypto Guides 101
    • Bitcoin For Beginners
    • Editorials
  • DeFi & NFT
  • Buy
  • Language
  • Crypto News
  • Bitcoin For Beginners
  • Cryptocurrency Guides 101
  • Editorials
  • Bitcoin & Crypto Margin Trading
  • DeFi & NFT News
  • Bitcoin Price Analysis
  • CryptoPotato Crypto Fund
  • Ethereum (ETH) Price Analysis
  • Ripple (XRP) Price Analysis
  • Market Updates
  • Interviews
  • Buy Bitcoin with Card
  • bitcoin
    BTC$23,085.00
  • ethereum
    ETH$1,696.10
    • Market Updates
    • BTC Analysis
    • ETH Analysis
    • XRP Analysis
    • Interviews
    • Opinions
    CryptoPotato
    CryptoPotato
    • Crypto News
    • Margin Trading
    • Guides
      • Bitcoin & Crypto Guides 101
      • Bitcoin For Beginners
      • Editorials
    • DeFi & NFT
    • Buy
    • Language
    • Crypto News
    • Bitcoin For Beginners
    • Cryptocurrency Guides 101
    • Editorials
    • Bitcoin & Crypto Margin Trading
    • DeFi & NFT News
    • Bitcoin Price Analysis
    • CryptoPotato Crypto Fund
    • Ethereum (ETH) Price Analysis
    • Ripple (XRP) Price Analysis
    • Market Updates
    • Interviews
    • Buy Bitcoin with Card
    Home » Price Analysis » Cardano Price Analysis: ADA Downtrend Reversal Following 10% Daily Surge?

    Cardano Price Analysis: ADA Downtrend Reversal Following 10% Daily Surge?

    Author: Duo Nine

    Last Updated Dec 2, 2021 @ 17:31

    ADA increased by 10% today and may start a new rally if it cracks the $1.9 resistance.

    Key Support levels: $1.5

    Key Resistance level: $1.9

    ADA found good support on the $1.5 level, and today, bulls moved the price closer to the key resistance at $1.9. If they can sustain this momentum, then ADA has a good chance to break above it and start a new rally.

    This price action is also a significant sign of strength, particularly when most of the market is in red today.

    Chart by TradingView

    Technical Indicators

    Trading Volume: Today, the volume was good from the bulls, and that pushed prices up in a very short period. It is important that they sustain this momentum over the coming days. Otherwise, this may be a one-off.

    RSI: The daily RSI is curving back up and appears ready to run. This is indicative of a potential reversal in the downtrend. Once the RSI makes a higher high, then this can be confirmed.

    MACD: The MACD on the daily timeframe appears a day away from doing a bullish cross on the moving averages and histogram. If that happens, it may be the impulse needed by bulls to seriously test the $1.9 resistance level.

    Chart by TradingView

    Bias

    The current ADA bias is neutral. To turn bullish, the MACD has to flip to the positive side, and the price action needs to send ADA above $1.9.

    Short-Term Prediction for ADA Price

    It appears that the bulls may be plotting an attack of the $1.9 resistance level, but until then, it’s important to remain vigilant and be cautious of some serious incoming volatility.

    SPECIAL OFFER (Sponsored)
    Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

    PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to receive up to $7,000 on your deposits.


    Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

    Cryptocurrency charts by TradingView.
    Tags: Cardano (ADA) Price
    Enjoy reading? Share with your friends
    Facebook Twitter LinkedIn Telegram

    About The Author

    Duo Nine
    More posts by this author

    Duo Nine is a seasoned cryptocurrency technical analyst with over five years of experience in price action trading. After buying his first Bitcoin in 2014, Duo never left the blockchain ecosystem. You will find him posting charts most of the time and hanging out on his Discord crypto community. Contact: Twitter

  • bitcoin
    BTC$23,085.00
  • ethereum
    ETH$1,696.10
  • Join Our Community

    FacebookTwitter YouTubeTelegram


    Editorials
    Users in Web3 Will Do a lot More Than Just Trade Crypto: Cronos’ Ken Timsit (Interview)

    Users in Web3 Will Do a lot More Than Just Trade Crypto: Cronos’ Ken Timsit (Interview)

    Institutions Are Starting to Buy Back: Interview with Nansen

    Institutions Are Starting to Buy Back: Interview with Nansen

    Top 5 Most Common Scams Related to Ethereum 2.0

    Top 5 Most Common Scams Related to Ethereum 2.0

    What is the Merge? What You Need to Know About the Transition to Ethereum 2.0

    What is the Merge? What You Need to Know About the Transition to Ethereum 2.0

    These are the Bear Market Benefits, and the Future of NFTs: DappRadar CEO (Interview)

    These are the Bear Market Benefits, and the Future of NFTs: DappRadar CEO (Interview)

    5 Common Mistakes to Avoid During a Crypto Bear Market

    5 Common Mistakes to Avoid During a Crypto Bear Market

    The Cardano Roadmap Eras Explained: Byron, Shelley, Goguen, Basho, and Voltaire

    The Cardano Roadmap Eras Explained: Byron, Shelley, Goguen, Basho, and Voltaire

    Join Our Newsletter
    Become a CryptoPotato VIP
    One Weekly Email Can Change Your Crypto Life.
    Sign-up FREE to receive our extended weekly market update and coin analysis report
    We NEVER send spam. You can unsubscribe at any time.
    Invalid email address
    Thanks for subscribing!
    Footer Logo
    About
    Advertise on CryptoPotato
    About Us | Contact Us | Careers

    Terms of service | Privacy Policy | GDPR
    More Sections
    IEO List | Evaluations
    Airdrops
    Scholarship
    Cannabis Stocks News | Market Analysis
    Disclaimer
    Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. Full disclaimer
    © Copyright CryptoPotato 2016 - 2021
    Scroll to top
    One Weekly Email Can Change Your Crypto Life.

    Sign-up FREE to receive our extended weekly market update and coin analysis report

    We never send SPAM. You can unsubscribe at any moment
    Invalid email address
    Thanks for subscribing!