Cardano Price Analysis (ADA/USD)
The price of ADA/USD pair has recorded an impressive price recovery over the intraday. The price-performance is bullish with an upsurge gain of 11%. The market escalated from where it closed yesterday at $0.04719 where it is currently trading at $0.05027.
Additionally, the market began the session with a bullish pressure that sharply shifted the momentum up to rally at a high of $0.05126. The RSI indicator that moved at around 08:30 to 17:00 up from a low of 50 to a high of 78, which is marked as a positive zone reflected the upward pressure.
A lack of dominance was later seen that was reflected by the sideways price momentum that consolidated between the key resistance level $0.05090 and support level $0.05001. Additionally, the RSI indicator is at the press time heading north and is above level 50 that signals a bullish outlook. A breakout above $0.05010 could confirm an upward price rally.
Cardano Price Prediction (ADA/USD)
Currently, the moving averages are converging, and the 21 day MA…