October 2, 2022

Cardano Price Analysis: Despite the Correction, ADA Eyes ATH Following 30% Weekly Surge

2 min read

ADA/USD – – Cardano Bulls Pushing For New ATHS

Key Support Levels: $1.10, $1.00, $0.95.
Secret Resistance Levels: $1.20, $1.28, $1.34.

Cardano has actually seen a marvelous bull run during the whole period of February, in which it managed to climb up by a total of around 230%. At first, in the very first half of the month, the coin had actually seen resistance around $0.84 (1.618 Fib Extension). This resistance was finally broken recently as ADA set a new ATH price at $1.20.

From there, the cryptocurrency began to trend lower over the past few days as it dropped as low as $0.89 (.382 Fib) the other day. It has handled to close each everyday candle light above a rising pattern line which allowed it to rebound.

Today, ADA has actually now pressed above the resistance at $1.10 and is making an attempt at the ATH cost around $1.20 once again.

ADA/USD Daily Chart. Source: TradingView ADA-USD Short Term Price Prediction Looking ahead, the very first resistance lies at $1.20(ATH). This is followed by $1.28 (1.618 Fib Extension – orange), $1.34 (1.272 Fib Extension – blue ), and $ 1.41(1.414 Fib extension 0 blue ). Extra resistance is discovered at $ 1.52 and $ 1.60. On the other side, the very first support lies at $ 1.10.

This is followed by $ 1.00 (.236 Fib ), $ 0.95, $ 0.89(.382 Fib ), and

$ 0.8(.5 Fib). The RSI is back on the rise after dipping into the midline today.
This indicates the bullish momentum is increasing within the market. ADA/BTC – Bulls Set Fresh 2020 Highs Secret Support Levels: 2200 SAT,

2000 SAT, 1775 SAT. Key Resistance Levels: 2300 SAT, 2333 SAT, 2455 SAT. Versus Bitcoin, ADA has set a brand-new high for the year around 2300 SAT. The cryptocurrency had dropped into the assistance at 1700 SAT recently and rebounded from there.

It discovered resistance at 2100 SAT over the past few days but managed to break past here with the 7.5% cost trek today.


ADA/BTC Daily Chart. Source: TradingView ADA-BTC Short Term Price Prediction

Looking ahead, the very first resistance lies 2300 SAT. This is followed by 2333 SAT (1.618 Fib Extension – – orange), 2390 SAT, and 2455 SAT(July 2018 High-day Closing price). Included resistance lies at 2585 (1.414 Fib Extension – – blue)and 2820 SAT (1.618 Fib Extension – – blue).

On the other side, the first assistance lies at 2200 SAT. This is followed by 2000 SAT (.236 Fib), 1775 SAT (.382 Fib), and 1700 SAT.

The RSI is also rising here however still has room before ending up being overbought. This shows there is still space for this bull go to continue greater before a retracement is needed.