Cardano price analysis: ADA is struggling to surpass the $2.5 resistance

TL;DR Breakdown for Cardano price analysis

• Cardano price analysis for today shows Cardano is recovering.
• ADA is attempting to go past $2.5.
• Cardano is trading in a tight range.

Cardano Price Prediction: General price overview

Today’s ADA/USD  price prediction is bullish. The ADA/USD pair has broken above its week-old resistance, and it’s crossing the week-old barrier at the moment of writing. Bulls again successfully evaded bearish pressure today, with prices starting to climb.  Cardano is currently priced at $2.24 after gaining 1.08 percent in the past 24 hours.

The volatility for the ADA/USD pair is decreasing, which is a positive indicator for the cryptocurrency since Bollinger bands are narrowing and the upper band is $2.7, while the lower band is $2; at $2.39, the mean average of Bollinger bands has formed just above price level.

The Moving average (MA) is located at $2.2 below the price, and the relative strength index (RSI) is moving closer to the upper half of the neutral zone, where it currently sits at 49. The indicator suggests that buyers are entering the market, pushing up the value.

The MACD indicator is still a little bearish, with its signal line in the negative zone and its value line in the positive zone. The histogram is near zero; therefore, prices are likely to continue to increase.

A break above $2.5 will open doors for $3.0-3.4, while support lies at $2.2, followed by $1.75 and $1.5.

ADA/USD may continue to rise in the near term due to the bullish price action for a few days. However, prices will first need to break past $2.5 for a significant ascent to begin.

ADA/USD Price Prediction four-hour Chart: ADA bulls aim for $2.5

ADA/USD 4-hour price chart. Source: Tradingview

In the 4-hour chart, we can see that volatility is still restricting with the upper Bollinger band at $2.4 and the lower band at $2; the mean average of Bollinger bands is at $2.2, implying a bullish trend, which is much lower than the price level.

The oscillators suggest that the ADA/USD pair is bullish in the near term, confirmed by the price action. The Moving average (MA) line is located at $2.4 below the price, but it’s crossed through the next market value up to 50 percent of its length, indicating a possible change of trend from bearish to bullish.

We can conclude that there are nine buying indications and eight selling signals for assets, whereas nine indicators do not display any signs and are standing neutral. As a result, it’s reasonable to assume that ADA has a mild bullish bias at the moment.

Cardano Price Prediction: Conclusion

The Cardano price prediction for today is bullish. ADA/USD pair has broken above its week-old resistance, and it’s crossing the week-old barrier when writing. Bulls again successfully evaded bearish pressure today, with prices starting to climb.

Read our last  Cardano price predictions.