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The Cardano price could rise to USD 0.45



 Cardano price was bearishly rejected at the 50-day EMA and is still in a corrective wave. In the medium term, however, ADA could rise to USD 0.45.


Cardano price forecast: the next few weeks could be bullish

In the last Cardano Price Prediction we wrote: “Currently the ADA price is around USD 0.4 and is struggling with the 50-day EMA resistance at around USD 0.414. In addition, there is significant Fibonacci resistance at around USD 0.404.


The MACD is clearly bullish in the daily chart, because the histogram is ticking bullishly higher and the MACD lines are bullishly crossed. If Cardano is able to clear the 50-day EMA, Cardano will find the next significant Fib resistance around USD 0.045 .


Against BTC, ADA price established a higher bottom and currently appears to be bouncing off golden ratio support at the 50-week EMA around 0.0000196 BTC.”

Previously, the Cardano price was rejected in a bearish manner at the 50-day EMA at around USD 0.41, only to break it in a bullish manner shortly thereafter. However, Cardano was not able to stay above the 50-day EMA for 24 hours, but instead initiated a corrective wave.


Cardano is currently finding support at around USD 0.385 and should this support break, significant golden ratio support awaits at around USD 0.37. However, the MACD signals a continuation of the corrective movement.


Finally, the histogram of the MACDs has been ticking bearishly lower for a few days. However, the MACD lines are still bullishly crossed and the RSI is neutral.

The 4H chart still has the death cross intact, confirming the trend bearish in the short-term . However, the EMAs are getting very close, which could soon establish a golden crossover.


In addition, the MACD lines on the 4H chart are bearishly crossed, which suggests that the corrective movement towards the golden ratio at around USD 0.37 will continue.

In the weekly chart, however, the MACD lines are still bullishly crossed and the histogram has been ticking bullishly higher since last week. However, last week Cardano was only able to close very slightly above the USD 0.4 mark, which previously served as strong support and is now acting as resistance.


If Cardano bounces off the golden ratio support around $0.37, Cardano could target the Fib resistances between $0.44 and $0.466.


Also, significant resistance between the 200-week EMA and the golden ratio waits between USD 0.525 and USD 0.56.

The MACD histogram is also ticking bullishly higher in the monthly chart. Currently even for the third month in a row. In addition, the Cardano price is currently at the 2018 high point and Cardano still finds significant support between USD 0.33 and USD 0.4.


The ascending histogram of the MACD gives indications of a bottom formation. Then $0.33 may have marked the bottom in this bear cycle. The decisive factor for the further course of ADA is whether the ADA price can break the 50-month EMA at around USD 0.5. Because at this resistance, the ADA course has been repeatedly rejected in a bearish manner for the past five months.

Against BTC, Cardano price formed a higher bottom and is still holding the golden ratio support at the 50-week EMA around 0.0000196 BTC. That's where Cardano could bounce this month.


If the support breaks bearishly, Cardano still finds significant support between 0.000016 BTC and 0.0000195 BTC. In addition, the MACD lines in the monthly chart are still bearishly crossed, but the histogram is ticking bullishly higher so far this month.


The RSI is at an all-time low on the monthly chart. If the ADA price now bounces up, it will find the first significant resistance at around 0.000024 BTC.


DISCLAIMER

All information contained on our website has been researched to the best of our knowledge and belief. The journalistic contributions are for general information purposes only. Any action taken by the reader based on the information found on our website is entirely at their own risk.

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