TRENDING:
Oil price
XAU/USD
EUR/USD
GBP/USD
Silver
Sponsored by
Login
|

Cardano Price Analysis: Big spike in buying volume as ADA consolidates above 0.050

  • Cardano is trading over 3% higher on Wednesday and is one of the star performers in the crypto market.
  • There has been a bullish cross on the moving averages as the price pushes above 0.050.00
Cardano Price Analysis: Big spike in buying volume as ADA consolidates above 0.050
Rajan Dhall, MSTARajan Dhall, MSTAFX Daily

ADA/USD 1-hour chart

Cardano has been looking bullish in recent sessions and on Wednesday pushed over 3% higher. The price has now moved over the 50.00 level had and could test the 0.05368 zone. The price is also trading above the 55 and 200 moving averages. Also, the moving averages have had a bullish cross too.

The interesting note is the rise in buying volume. The price has moved higher off the back of good support from the market. The relative strength index is also in a positive zone and has some more room to move up. 

ADA Cardano shooting higher

Author

Rajan Dhall, MSTA

Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.

More from Rajan Dhall, MSTA
Share:

Editor's Picks

Pi Network extends consolidation as bulls eye $0.10

Pi Network extends consolidation as bulls eye $0.10

Pi Network price holds steady on Friday, maintaining a consolidating tone for three consecutive days. Mild retail strength in the PI token remains stable, with Open Interest above $9 million, while social buzz eases.

Bitcoin Weekly Forecast: Hormuz uncertainty clouds BTC outlook

Bitcoin Weekly Forecast: Hormuz uncertainty clouds BTC outlook

Bitcoin trades around $62,900 on Friday, down over 3% so far this week, but signs of stabilization are emerging. Tensions in the Strait of Hormuz are keeping Oil prices and the war-risk premium elevated, supporting the US Dollar and weighing on BTC.

Crypto Today: Bitcoin, Ethereum, and Ripple risk steeper correction as bearish pressure mounts

Crypto Today: Bitcoin, Ethereum, and Ripple risk steeper correction as bearish pressure mounts

Bitcoin trades below $63,000 on Friday, projecting a downside bias as selling pressure resurfaces. Ethereum and Ripple also take a bearish path, risking a drop below the 50-day Exponential Moving Average at $1,856 and the $1.00 psychological support, respectively.

Bitcoin SV Price Forecast: BSV hits three-month high, eyeing 200-day EMA breakout

Bitcoin SV Price Forecast: BSV hits three-month high, eyeing 200-day EMA breakout

Bitcoin SV (BSV) is up nearly 2% on Friday, extending a steady upward trend over the last two weeks. Retail strength builds in BSV amid multiple vulnerabilities found in the Bitcoin ecosystem.

Bitcoin: Hormuz uncertainty clouds BTC outlook

Bitcoin: Hormuz uncertainty clouds BTC outlook

Bitcoin (BTC) trades around $62,900 at the time of writing on Friday, down over 3% so far this week amid cautious institutional demand and persistent geopolitical uncertainty. While BTC shows signs of stabilization, elevated Oil prices and tensions in the Strait of Hormuz continue to weigh on risk sentiment, keeping the Crypto King’s near-term outlook under pressure.