According to the price analysis data surrounding Cardano (ADA), its price is currently exhibiting a value worth $1.360. The data shows that ADA is currently over the 30-day EMA, which is represented by the figure that is worth $1.316 per ADA.
The data from TradingView is suggesting that the current sentiments of the investors are in the bullish zone. This means that in the upcoming days, the market observers would see the investors buying more and more Cardano. This would eventually help boost the price of ADA and move it in a positive direction.
According to the performance scale for Cardano, out of the 15 investors, 5 investors are likely to sell ADA. The figure is against 9 investors who would be willing to buy ADA, while there is only 1 investor who would remain neutral throughout the process.
This further confirms that Cardano is currently hovering within the bullish zone and its price may continue rising in the upcoming days.
The data suggests that in the upcoming days, the investors may increase their buying power to push ADA’s price higher. According to predictions, the investors may be looking towards bringing the price of ADA all the way up to 100-day EMA ($1.575).
In order to reach the 100-day EMA, the investors will first have to increase their buying power and push ADA over the first strong resistance mark ($1.535). If the bulls manage to do it, their next target would be to push ADA’s price all the way up to the 200-day SMA ($1.820 per ADA).
Once again, the investors will need to first hit and cross the second strong resistance mark, which is $1.774 per ADA. If the bulls manage to do it, they will have the opportunity to launch a strong rally in order to push ADA’s price all the way up to the third strong resistance mark ($1.995 per ADA).
If the bears manage to bring the situation into their control somehow, they would be able to pull its price below the 30-day EMA ($1.316 per ADA). If the bears manage to make it happen, they would try again to pull its price below the 20-day EMA ($1.287 per ADA).
If things work out in favor of the bears and they are able to increase their selling pressure, they would be able to pull ADA’s price down to the first strong support mark ($1.256).
Once the price hits the first strong support mark, the bears will increase their selling power to pull ADA’s price even lower. They will face strong resistance from the bulls and if they win against them, they will be able to pull ADA’s price down to $1.196 (second strong support mark).
Once the second strong support mark is hit, the bears will be able to pull ADA down to the third strong support mark ($1.074 per ADA).