Cardano $ADA Price Outlook: Bullish

@KittyBitcoin logo
January 03 2019 08:11 UTC

 

Cardano has gained 5.00% or 0.00207 USDT in twenty-four hours. In this Friday Edition find $ADA price action, trend, technicals and more. Or jump right to the Cardano $ADA Price Outlook.

 

Price Action

The price of $ADA has risen over twenty-four hours. The last price at press time is .04347 USDT. In Binance light to moderate volume trading the daily change is 5.00%, or 0.00207 USDT:
$ADA Price Change
period % USDT
24 hours 5.00 0.00207
7 days 20.18 0.0073
1 month 3.16 0.00133

News

Trend

trend is UP

The Cardano weekly trend is up.

[Trend is "up" when the weekly price movement is predominantly upwards.]

Real Time Market Depth

The real time market depth is strongly bullish.

 

[The real time market depth is a fractional representation of the order book, used to assist in determining market direction.]

Chart

Tap / click to zoom:

ada-usdt-binance-six-hour-candles-2019-01-03

 

Remarks

After bottoming on December 15 at a low of $00.02708 Cardano enjoyed the Christmas Rally with most of the other altcoins. That ended on December 24 2018 with three days of red candles. Since then $ADA has gradually edged up to the report generation last price of $00.04347.

Up 5.00% in 24 hours, and up 20.18% in a week are strong bullish numbers hard to replicate in today’s bearish leaning altcoin market.

Good news of Trezor integration, Mobile clients, Firefox support, and Multi-language support may continue to favorably influence $ADA.

 

Technicals

Moving Average Convergence Divergence (MACD)

The MACD on the six hour chart is bullish. The last five consecutive 6 hour sessions have all been bullish.

[MACD is a trend-following momentum indicator]

 

Exponential Moving Averages (EMA)

period average
7 day .04295
25 day .04166
99 day .03968

The short term EMA(7) is above both the medium and long term EMA. The angle is sloping upwards. This is a bullish state.

[EMA is a type of moving average that weights recent price fluctuations more, yielding a better short term signal]

 

Relative Strength Index (RSI)

The Relative Strength Index on the six hour chart is 59.1. This is a neutral state.

All of the one, two, four, six, twelve hour and daily charts print neutral RSI.

[RSI is is a momentum indicator that measures the magnitude of recent price fluctuations to determine an overbought or oversold state]

 

Bitcoin $BTC Price Modifier

The 24 hour Bitcoin $BTC change is 1.74%. This may exert a neutral influence on Cardano today.

[The bitcoin price modifier reflects the historical correlation between the price of $BTC and altcoins]

 

Cardano $ADA Price Outlook

bullish

  • the Cardano $ADA price outlook is bullish
  • if the price finds acceptance at higher levels the major resistance prints at .04899 (Dec 23)
  • if the price finds acceptance at lower levels the major support prints at .039
Resistance levels: .04899 (Dec 23) .04543

Support levels: .039 .036

 

Invalidation: This outlook is no longer valid if the asset has performed outside of its resistance or support levels, or outside of its short term analysis duration.

 

Analysis Duration: twelve hours

This report is for a short term duration of twelve hours. Analysis is time sensitive.

[Analysis duration yields a “best before date”, calculated from report generation at January 03 2019 08:11 UTC.]

 

Disclosure

The author does not hold Cardano $ADA at the time of writing.

About @KittyBitcoin

KittyBitcoin logo

@KittyBitcoin has provided timely and informative blockchain intelligence since 2014. Request your custom content today, browse @KittyBitcoin on Twitter® or visit the KittyBitcoin.com website.

Feed

Use the new KittyBitcoin feed URL page at: http://kittybitcoin.com/docs/feeds.php

Copyright

KittyBitcoin media is licensed not sold. Copyright©KittyBitcoin.com 2019. All rights reserved.

Thanks for reading 🙂