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Cardano [ADA] Price Prediction, Technical Analysis – August 24

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Cardano Price Prediction and Technical Analysis
Source: Cardano

Cardano ADA the 9th largest cryptocurrency by market capitalization as per Coinmarketcap. The price of Cardano [ADA] at the time of writing this post is $0.092525 USD (+2.62%). The 24h High for ADA is $0.09420 and 24h Low is $0.08912. Market Cap at the time of writing this post for Cardano is $2,398,897,580 USD.

Cardano Price Prediction and Technical Analysis

First of all, I will do the technical analysis on the basis of 1-day price forecast. The 10-day Exponential Moving Average is 0.09682893 and 20-day EMA for Cardano is 0.10627642. While looking at both these 10-day and 20-day EMA it depicts selling. Even also the 10-day Simple Moving Average is 0.09566768 indicating a sell signal.

Cardano price prediction and technical analysis 23rd august

Cardano Price Prediction and Technical Analysis | Binance

The Relative Strength Index (14) for Cardano ADA is 35.61444000 which is in the neutral zone. The MACD Level (12, 27) is -0.01286223 indicating a buy signal.

Now let’s come to the 1h price forecast while looking at the Exponential Moving Average (10) it is 0.09200003 and the EMA (20) is 0.09169252. The Simple Moving Average (10) for ADA is 0.09198223. While looking at these technical details EMA (10), EMA (20) & SMA (10), all are indicating buy signal.

Cardano ADA technical analysis as per moving averages and Oscillators

Oscillators and Moving Averages | TradingView

The Relative Strength Index (14) is 53.99331000 which is in the neutral phase. MACD Level (12, 27) in this case is 0.00031819 indicating a buy signal. The Momentum (10) is also indicating a buy signal with a value of 0.00084996.

This article should not be considered as an investment advice. Please conduct your own research before investing in any cryptocurrency.

Ashish is a cryptocurrency journalist who has been passionately involved in the bitcoin space since 2016. His interests lie in bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.

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