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Cryptopolitan 2021-09-02 13:32:58

Cardano price analysis: ADA to fall to $2.80

TL;DR Breakdown Cardano price analysis suggests a correction before ADA can rise above $3.00ADA faces resistance at the $3.050 markThe closest support level lies at the $2.80 level Cardano (ADA) has broken above the $3.00 mark but finds strong resistance at the $3.050 level. The Cardano price analysis shows strong bullish momentum across the mid-term charts but the short-term indicators suggest that the bulls are exhausted. The broader cryptocurrency market observes a bullish market sentiment over the last 24 hours as most major cryptocurrencies record positive price actions across the period. Major industry players include Ripple’s XRP and Polkadot recording a 9.12 and a 7.63 percent incline respectively. Meanwhile, Bitcoin and Ethereum record a 5.38 and a 7.76 percent increase in their respective prices. Cardano price analysis: Bulls exhausted Technical indicators for ADA/USDT by Tradingview Across the technical indicators, the MACD is currently bullish as expressed by the dark green histogram. The indicator exhibited a bullish crossover yesterday and has only shown growing bullish momentum since then. However, the indicator may show some stagnation as the Cardano price analysis shows strong resistance at the $3.050 mark. The EMAs are currently moving upwards supporting the bulls, however, the 12-EMA has observed a decline in its gradient in recent hours. If ADA is unable to cross past the $3.05 mark before tom...