Cardano ADA Price Analysis 2019- Is It The Beginning Of New Bull Market Cycle?

Anisa Batabyal
| 28 March, 2019 | 2 min

#1 Key Highlights

  • ADA price analysis suggests that it has been following uptrend channel since December' 2018 and moved 100%+ against BTC (Satoshi) pair.
  • Trading above 200D-SMAs and Ichimoku cloud on Daily time frame.
  • Pair has moved up more than 60% from the price level mentioned in the previous article in January’2019.
  • Bearish(sell signal) signs indicate slight correction ahead to levels defined on the chart below.
  • Correction downward can provide an opportunity to buy the asset for the long-term hold.

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#2 CARDANO [ADA] Price Analysis – Daily Chart ADA/BTC-Bittrex

Cardano price analysis shows it has been a runner since December'18 and is in strong bull trend while moving 100%+ against Bitcoin(Satoshi) at the time of writing but will the coin rise more?

Few of the Cardano news supporting the uptrend:

  • Ledger Nano S wallet support to Cardano (ADA) coin.
  • Binance adding ADA trading pairs.
  • Shelley release on Test-net and Main net during the second quarter (Q2).

If we look at the Cardano price analysis today then we might see a slight correction downward in the coming days which might provide an opportunity for late buyers to enter the asset for a long-term hold.

Let's look at Cardano price analysis 2019 on its Daily-time frame chart:

  • Risk taker buyers can look for preliminary support area around 0.00001470 satoshis to enter the asset for mid-term hold.
  • If this preliminary support level doesn't hold then one can look for potential resistance turned support(S/R Flip) area around 0.00001337-0.00001376 satoshi to set their bids for a safer entry as per Cardano analysis.
  • Sellers can look for areas at resistances(sell zones) around 0.00001920-0.00002000 satoshi (short term) and 0.00002243-0.00002406 satoshi and 0.00002701-0.00002778 satoshi (long-term).
  • Breaking down below the last support area around 0.00001102-0.00001112 Satoshi would be strong bearish (sell signal) for the asset.

Further Cardano coin price analysis suggests that it has crossed the 200D- SMA (simple moving average) on Daily with bullish cross-over of 10 and 20 EMA (exponential moving average) on weekly. These are quite healthy signs for the bulls.

MACD and Stoch-RSI indicator on Daily time frame showing signs of weakness leading to a healthy correction in the coming days but that doesn't make the pair strongly bearish.

#3 Conclusion All-Time

Cardano coin has been the top rising cryptocurrencies and its price seems to be in a bullish trend in the long-term with future looks bright because of the upcoming catalyst of the launch of Shelley update on Test-net and Main-net during Q2 2019.

Note: The above references are for information and educational purposes only. It is not intended to be a piece of investment advice.

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