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Cardano (ADA) Price Analysis – November 8

Cardano (ADA) Price Analysis – November 8
Cardano Chart By Trading View

ADAUSD Medium-term Trend: Bearish

Resistance levels: $0.080, $0.090, $0.100

Support levels: $0.075, $0.070, $0.065  

The price of Cardano was in a bearish trend yesterday. The crypto's price fell because it tested the resistance level at $0.080. On October 29, the price of ADA fell to its previous low at $0.068, then it commenced a bullish movement to the high of $ 0.082. On November 7, the crypto's price was resisted and it pulled back.

The crypto's price is likely to fall on the $0.075 and $0.070 price levels. If the bears fail to break the $0.075 price level, the ADA price is likely to resume its uptrend because the price is above the 12-day EMA and  the 26-day EMA. However, if the bears break the $0.075 price level, it will find support at either $0.070 or $0.068.

Meanwhile, the ADA price is above the 12-day EMA  and the 26-day EMA indicating that the price is likely to rise. However, the Stochastic is below 80 indicating a sell signal.

ADAUSD Short-term Trend: Bearish       

Cardano (ADA) Price Analysis – November 8
Cardano Chart By Trading View

On the 4-hour chart, the ADA price is in a bearish trend .The digital currency fell to the low of $0.76 and it is making a bullish movement to the upward. The Relative Strength Index period 14 is level 54 which indicates that the price is nearing the bullish trend zone.



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