Cardano Technical Analysis: ADA/USD reaches its highest level since September 2018
|ADA/USD Daily Chart (Kraken)
- Over the last three sessions of the ADA/USD daily chart, the price shot up from $0.69 to $0.93, charting a 35% growth in the process.
- The relative strength index (RSI) curve has been trending in or near the overbought territory since 16th March.
ADA/USD 4-Hour Chart (Kraken)
- The widening mouth of the 20-day Bollinger band shows a highly volatile market.
- The last six sessions of the 4-hour chart have trended above the upper curve of the Bollinger band, which shows an extremely bullish market.
- The signal line has diverged away from the MACD line, which indicates increasing bullish momentum.
ADA/USD Hourly Chart (Kraken)
- The hourly ADA/USD chart is trending above both the 200-day simple moving average (SMA 200) and SMA 50 curves.
- The last five sessions of the Elliot Wave Oscillator shows increasing momentum.
- Only five of the last twenty-three sessions in the Elliot Wave Oscillator is bearish, which clearly shows that the overall market sentiment is bullish.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.