Cardano (ADA) Price Analysis – April 11

  • The price of Cardano faces resistance at the $0.0900 price level.
  • On the upside, if the bulls break above the $0.0900 resistance level, the crypto's price will rally above the $0.1000 price level.

Cardano, ADAUSDCardano Chart By TradingView

ADAUSD Medium-term Trend: Bullish

  • Resistance levels: $0.080, $0.090, $0.100
  • Support levels: $0.090, $0.080, $0.070 

The price of Cardano had been in a bullish trend since March 9. The price has appreciated from $0.0420 to the high of $0.0910. Yesterday, the bulls were resisted as price tested the $0.0900 resistance level. Since  April 3, the bulls had been struggling to break the $0.0900 resistance level.

After each resistance, the price falls to the support of the 12-day EMA. On the upside, if the bulls break above the $0.0900 resistance level, the crypto's price will rally above the $0.1000 price level. On the other hand, if the bulls fail to break the $0.0900 resistance, the crypto's price might fall and range above the $0.0800 price level.

Meanwhile, the stochastic is in the overbought region but below the 80% range. This indicates that the price of Cardano is in a bearish momentum and a sell signal.

ADAUSD Short-term Trend: Bearish 

Cardano, ADAUSDCardano Chart By TradingView

On the 4-hour chart, the crypto's price is in a bearish trend. The bears have broken below the 12-day EMA and the 26-day EMA to reach the bearish trend zone. The crypto's price is below the EMAs which indicates that the price is likely to fall. On the downside, if the bearish trend continues, the crypto's price might fall and find support at the $0.0800 price level.

On the upside, if the $0.0820 price level holds, the bulls will resume the bullish trend to break above the EMAs. Meanwhile, the stochastic is in the oversold region but below the 40% range. This indicates that the price of Cardano is in a bearish momentum and a sell signal.                                                                                                                                                                                                                                                                                                                                                                                                                 

  The views and opinions expressed here do not reflect that of CryptoGlobe.com and do not constitute financial advice. Always do your own research.

After Monster Rally, Dogecoin (DOGE) Pushing Multi-Year Resistance

Colin Muller

Dogecoin (DOGE), beloved of crypto traders old and new, has repeated its classic move and shot up as much as 140% in the past two days. With this move, it is pushing on a multi-year resistance zone. If that were to break, we would see something truly interesting.

We can see this on the weekly DOGE/Bitcoin chart, from the (once-mighty) Poloniex exchange. This trending zone has been respected since June 2017, which many consider the first great “alt season”.

Watch this closelyDOGE chart by TradingView

The two key levels here are ₿0.00000038 (38 sats) and 79 sats, which make up the block of the resistance area on the weekly chart. This poses a very clear criterion for us to be aware of: the weekly has not closed within this zone in three-plus years; and come Monday, if it is above 38-ish sats, DOGE will be looking interesting still.

Moving to the daily DOGE/USDT chart, we see a similar, if less slanted situation. If the rocket 140% move is to make any inroads into a  new price structure, it will have to hold on a retest at about $0.0033.

A new market structure?DOGE chart by TradingView

That doesn’t look like it should be too difficult, and we could instead see a hold somewhere much more impressive like $0.0045 and above.

At any rate, we need to watch that DOGE/Bitcoin weekly chart. Breaking resistance seems too hard to believe; but we could well see DOGE/USDT continue up – and this would imply a leg up for Bitcoin. Thus, DOGE/Bitcoin may tell us just as much about the broader crypto market as it does about Dogecoin itself.

The views and opinions expressed here do not reflect those of CryptoGlobe.com and do not constitute financial advice. Always do your own research.

Featured Image Credit: Photo via Pixabay.com