The Most Important Support For Cardano! Can The Bulls Hold On?

9:43 am, Sun, 3 April 22

Current Cardano Data

Dominance
Price
Market Cap
Volume (24h)
1h
12h
1d
7d
1m
1y
?
Cardano Forming A Head And Shoulder Pattern. What Does This Mean? Watch this price analysis on the 1-hour timeframe
ADA price prediction from a previous analysis Cardano Forming A Head And Shoulder Pattern. What Does This Mean?

The Cardano bulls are bearly hanging in there, and the key level to watch out for is the Neckline region for the Head and Shoulder Pattern currently forming on the 4-hour timeframe.

This Neckline region is so important to the Cardano bulls because a price break below it will definitely see the ADA/USDT price crashing back down to the $0.9608 price level in the coming days.

This $0.9608 bearish target for ADA also coincides with the 0.618 Fibonacci key retracement level.

Bearish price prediction for Cardano. Watch this head and shoulder pattern on the 4-hour timeframe

But all hope is not lost, the Cardano bulls can still fight back and stop this bearish sell-off before it starts.

All they need to do is hold on to and keep the ADA price above the NECKLINE region on the 4-hour timeframe at all costs!

If this Neckline level holds, Cardano will not sell!

To trade ADA/USDT with leverage, sign-up to Bybit right now! Bybit’s BIGGEST Deposit Bonus Campaign is now live! First-time depositors can get up to a $4,100 Bonus when you sign-up and fund your Bybit account with our Bybit link.

Claim up to $30,030 in Bonus

100x Leverage

Well Is There A Bullish Price Scenario?

The Most Important Support For Cardano! Can The Bulls Hold On?
The Most Important Support For Cardano! Can The Bulls Hold On? Watch this price analysis on the 4-hour timeframe

Yes! there is a bullish price scenario for Cardano. And in this section, we will be breaking it down for you.

There are only two rules for the bullish price scenario to play out. And those are:

  1. The Neckline region must hold for ADA to remain bullish
  2. The ADA price must break through the $1.1958 previous highs on the 4-hour timeframe

A bullish breakout above the $1.1958 previous high will immediately change the ADA market direction from a downtrend to an uptrend.

The Most Important Support For Cardano! Can The Bulls Hold On?
The Most Important Support For Cardano! Can The Bulls Hold On? Watch this bullish prediction on the 4-hour timeframe

Bullish Target For ADA

Our bullish target for a potential move like this would be the $1.3914 price level.

Once the price breaks through the $1.1958 previous highs in the 4-hour timeframe, there is a very high probability that we might see this 16% bullish surge in price play out after.

The Most Important Support For Cardano! Can The Bulls Hold On?
The Most Important Support For Cardano! Can The Bulls Hold On? Watch this bullish target for ADA on the 4-hour timeframe

Final Verdict!

We now have potential trade setups for both the bullish and bearish scenarios for ADA, with the best entry levels and targets to watch for.

The question now is what direction will Cardano decide to go? And the two key levels to watch are:

  1. The break below the Neckline region on the 4-hour timeframe for bearish setup or
  2. A price bullish break above the $1,1958 previous high for a bullish trade setup.

Now we wait!

Claim up to $30,030 in Bonus

100x Leverage

Easy Steps From Beginner To Pro Crypto Trader

You can speed up your learning journey by reading our How To Trade Bitcoin Guide. This guide is the best for crypto traders who wants to get familiar with the basics of Bitcoin trading. You can also check out our top list of Best Bitcoin Exchanges To Trade With.

PrimeXBT Covesting: Trade Hassel Free

Sign-up on PrimeXBT today to trade Bitcoin hassle-free. You can copy experienced traders and access hundreds of different strategies on the platform! Don’t forget to claim your 25% bonus by using the promo code “bitcoinsensus50” when you sign-up with our link  PrimeXBT Covesting

Recommended Bitcoin Trading Platforms:
★★★★★
★★★★★

Rating: 94%

Claim up to $30,030 in Bonus

100x Leverage

Fees:
Deposit Methods:
Taker:
0.075%
Maker:
-0.025%
Wire:
Credit:
Crypto:
★★★★★
★★★★★

Rating: 89%

Claim up to $4100 in Bonus

100x Leverage

Fees:
Deposit Methods:
Taker:
0.075%
Maker:
-0.025%
Wire:
Credit:
Crypto:
★★★★★
★★★★★

Rating: 91%

Claim up to $7000 in Bonus

100x Leverage

Fees:
Deposit Methods:
Taker:
0.050%
Maker:
0.050%
Wire:
Credit:
Crypto: