Cardano price analysis indicates a bullish outlook for the day. The altcoin is gaining against most of the major’s mute movement. ADA has undergone a consolidation after it started its fall on August 14. The price depreciated nearly 26% so far.
Curretnly, the buyers attempts to shield $0.4388 zone, and is making a quick recovery toward $0.5065. There is a strong upside barricade place around $0.4926. Additonal buying interest is required to push the price higher.
- Cardano price trades modestly higher on Friday.
- A decisive break above $0.4926 would bring speedy recovery toward $0.5065 and above.
- The momentum oscillators remain mixed wiht no clear direction bias.
Cardano price looks sign for upside extension
ADA is currently trading at $0.4767. The price fell more than 25% in just four trading days, and is now consolidating near the lower levels. On August 19, the price fell sharply by up to 12%, breaking multiple support levels
This, also coincides with the breach of the 50-day exponential moving, but takes the support from its previous swing low.
