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Cardano hits a fresh 90-day high as it mounts at $0.0574 on Kraken. This impressive movement of the ADA coin projects towards having bullish days ahead. The ongoing month has turned out to be quite beneficial for the global crypto market investors as Bitcoin, and all the major altcoins have retested new trading heights. The technical indicators indicate bullish crossovers as Cardano coin shows impressive intraday movement on a 4-hourly chart against USD.
ADA price leaps as Bitcoin hits above $9,400, and alongside, the whole crypto market is pumped with growth. The trading price zone is projected to form an upward channel as the coin continues to grow gradually.
Cardano Price Analysis
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Analyzing the above ADA/USD chart, we see that the coin has been making good the losses as the price of ADA forms an upward trading channel. The current trading price of Cardano retains the support from the imminent daily moving averages viz., 10-day, 50-day, and 200-day.
The 20-day Bollinger Bands laid are seen widening, and therefore, the traders of the coin can experience volatile days ahead. However, volatile yet growing remains the goal as we see greater chances of upside and bullish bias.
Technical Indicators
The MACD of Cardano is seen as having a bullish run as it moves above zero and overrides the Signal line due to an intraday bullish crossover.
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The RSI of the coin is at 66.85 and is also already observed having an overbought crossover as it had hit above 70.
