ADA Price Analysis – July 23
Cardano price draws a probable uptrend as it trades at $0.124 and appears bullish as it is continuously spiked from the trading price of $0.121.
Resistance levels: $0.140, $0.145, $0.150
Support levels: $0.105, $0.100, $0.095
ADA/USD is facing a bit of price pullback as the market opens today. The technical indicator RSI (14) is moving towards the bullish phase already as the signal line moves above 60-level. If the price path slips below the 9-day and 21-day moving averages, a bearish price move may be anticipated. ADA started a strong rebound journey a couple of days ago and at the time of writing; it has reached as high as $0.128 from $0.121.
Moreover, if ADA/USD decides to stay under the control of bears, the price may likely drop to the nearest supports at $0.105, $0.100, and $0.095 levels. Looking at the upside, the bulls need to push the coin above the moving averages to reach the potential resistance at $0.140, $0.145, and $0.150 levels.
Against Bitcoin, the market is seen to be moving within the moving averages where the price is expected to break out above the 9-day moving average. Should the price cross above this barrier, the market could experience additional upward trends that may touch the nearest resistance level at 1500 SAT and above.
However, if the bears could push the market towards the south for it to move below the 21-day moving average, ADA price may reach the support levels of 1100 SAT and 1000 SAT respectively. More so, the RSI (14) indicator confirms that the market may continue to follow the downtrend.