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Cardano Price Looking Strong Despite Weakness in broader Crypto Market

  • Cardano price over the monthly chart is projecting good strength in the weak market condition and the coin trying to rebound after taking support of 100-DMA 
  • The coin is outperforming relatively with the weak market and presently holding major or vital moving averages (MA) like 100 and 200-Day
  • The pair of ADA/BTC is trading at 0.0000434 BTC with an increment of +3.28%, and ADA/ETH is CMP at 0.0006483 ETH jumped over +6.35% in the last 24-hours
Source:tradingview

Over the monthly chart, Cardano price is trying to rebound after testing support of 100-day moving average (MA). Presently, the crypto asset is trying to struggle near the moving average of 20 and 50-DMA. Meanwhile, ADA is looking strong in the weak market, and it seems bulls have a strong grip over the coin. 

Volume is another significant or vital part of the analysis that indicates low participation of bull and bears, improving. Support on the monthly chart is at $1.30 and $1.00; likewise, resistance on the higher side is at $1.84 and $2.15. 

Cardano Price Heading Towards The Supply Zone

Source:tradingview

Cardano price over the weekly chart is heading towards the supply zone, and the coin can face rejection in upcoming trading sessions. Moreover, the technical indicators are projecting bullish momentum over the 4-hour candlestick chart. However, the weekly time frame volume is lower and is placed near the average line, which needs to improve. The Cardano price is $1.62 with intraday gains of +11% and the volume/market cap ratio at 0.1047. 

Relative Strength Index (Bullish): Cardano price RSI is presently projecting a bullish momentum over the weekly chart. 

Moving Average Convergence Divergence (Bullish) currently indicates a bullish trend on the daily chart. The buyer’s signal line (green) is more significant than the seller’s line (red). 

Support levels: $1.30 and $1.00 

Resistance levels: $1.84 and $2.15.