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In the Cardano market, sellers oppose buyers
ADA Price Analysis – September 13
As buyers exert more pressure, the daily candle may close above the $0.50 level, while Cardano may rise to the $0.54 and $0.58 levels. If the sellers cut off the buyers, bearish pressure could push the price down to break $0.47, with the next support levels at the $0.41 and $0.38 levels.
ADA / US dollar market
Key steps:
Resistance levels: $0.50, $0.54, $0.58
Support levels: $0.47, $0.41, $0.38
ADA/USD Long Term Trend: Bullish
On the daily chart, Cardano is bullish. Cardano has touched the support level of $0.41 twice. The first touchdown was on July 12 and the second touchdown was held on July 12. It’s August 26. This situation is a sign of bully activity. Strong daily bullish candles were formed and the price rose. The resistance level of $0.47 has been broken up. The price is currently trying to break the $0.50 resistance level.
The price is trading above two dynamic resistance levels, the 9 period EMA and the 21 period EMA, indicating bullish momentum in the near term. As buyers exert more pressure, the daily candle may close above the $0.50 level, while Cardano may rise to the $0.54 and $0.58 levels. If the sellers cut off the buyers, bearish pressure could push the price down to break $0.47, with the next support levels at the $0.41 and $0.38 levels. The relative strength of the technical indicator indicates a bearish signal with the signal line pointing down at 54 levels.
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ADA/USD Medium Term Trend: Bullish, Tamadog Heading North.
Cardano is bullish on the 4-hour chart. Crypto was heading towards the $0.41 support level before buyers resisted the move. Strong buyers’ pressure is observed on the 4-hour chart; A large candle formation that took the price below the $0.50 support level. Currently, the price is going back.
The 9-period EMA crossed the 21-period EMA, indicating that the bears are trying to dominate the Cardano market. The relative strength index shows a sell signal in session 14 pointing down at 48 levels.
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