ADA Price Analysis – November 30
Cardano (ADA) slips today as the price drops to $0.040. In the coming days, ADA may likely recover from the slippery.
Resistance levels: $0.045, $0.047, $0.049
Support levels: $0.036, $0.034, $0.032
As this month is running out, Cardano has been performing quite well in the last 5 days. Today, as at the time of writing, the market is confronted with the downward movement, but the bulls kept the movement intact within the ascending channel. The same reflects that the coin has pretty good potential during the Asian hours until ADA price drops slightly to start trading below the 21-day MA.
Looking at the chart, if ADA/USD decides to stay under the control of bears, the price may likely drop to the nearest support at $0.036, $0.034 and $0.032 levels. Whereas, on the upside, the bulls need to push the price above the upper boundary of the channel and the moving averages to reach the resistance at $0.045, $0.047 and $0.049 levels. The stochastic RSI now moves above 60, which may continue to give bullish signals in the market.
Against Bitcoin, the market is seen to be moving above the moving averages and within the channel where the price is expected to break out of the upper part of the channel. Should the price cross above the channel, the market will experience an upward trend that could touch the nearest resistance level of 560 SAT and above.
However, if the bears could bring the market down the south moving below the 9-day and 21-day MAs, ADA price may reach the support levels of 500 SAT and 450 SAT respectively. The stochastic RSI indicator confirms that the market may be controlled by the buyers if it continues to move above the 45-level.
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