Cardano (ADA) Price Today – ADA Attempts to Flip $0.9891 Resistance Into Support

The Cardano price pumped over 4% in the last 24 hours to trade at $0.9603 as of 3:55 a.m. EST. Following the 24-hour gain, the ADA price still has some work to do to erase the losses suffered in the last week, with the altcoin still over 7% down on the 7-day time frame.

The Cardano price pumped over 4% in the last 24 hours to trade at $0.9603 as of 3:55 a.m. EST.

Following the 24-hour gain, the ADA price still has some work to do to erase the losses suffered in the last week, with the altcoin still over 7% down on the 7-day time frame.

Cardano Price Attempting A Challenge At The $0.9891 Resistance

4-hour chart for ADA/USD (Source: GeckoTerminal)

The Cardano price was able to escape above a short-term descending channel in recent hours, and is now attempting to flip the resistance level at $0.9891 into support. Should the altcoin manage to close a 4-hour candle above this price point within the next 8 hours, it could gain the room needed to rise to the subsequent resistance level at $1.0933.

Conversely, a rejection from the $0.9891 resistance mark could force the Cardano price to below the immediate $0.8821 support and to back within the bearish price channel. Traders might then push ADA down to as low as $0.7971.

Indicators Suggest The Cardano Price Might Continue To Climb

From a technical standpoint, the indicators on the crypto’s 4-hour chart suggest ADA’s bullish move is still in its early stages. Firstly, Relative Strength Index (RSI) readings have started to rise along with the Cardano price in recent hours as buyers grow stronger against sellers.

The current RSI reading below 50 signals bears still have an upper hand over bulls. However, the positive slope of the RSI line indicates that a positive switch in power might take place soon.

Meanwhile, a major bullish technical flag is on the verge of being triggered by the Moving Average Convergence Divergence (MACD), as the MACD line rises towards the MACD Signal line. A cross between these two indicators in coming hours could suggest that the Cardano price has entered a confirmed positive trend.

Traders might want to wait for ADA to breach the $0.9891 resistance level. ADA overcoming this technical barrier might push indicators in favor of bulls and be followed by a continued increase in the Cardano price.

While ADA tries to clear resistance, investors are piling into the Best Wallet (BEST) presale, which is fast-approaching the $7 million mark.

Popular YouTuber Crypto Gains, with more than 141K subscribers, says the BEST token has the potential to surge 10X after its launch.

The Only Wallet Crypto Investors Will Ever Need Best Wallet is a custodial solution that offers everything crypto investors need to manage, secure, and grow their digital asset holdings. Users are able to swap between assets, stake tokens, spend crypto, participate in iGaming and more all within the Best Wallet app.

There’s also a feature that lets users view and buy into hot up-and-coming crypto projects before they hit the open market. One such token that was flagged by the wallet is Catslap (SLAP), which has risen more than 2,254% since its launch.

Additionally, in-app market insights provides traders and investors with all of the information they need to make informed decisions and manage their crypto effectively.

Best Wallet comes with its own token as well, which is currently in the presale stage and can be bought within the app. Holding BEST gives the wallet’s users access to benefits such as reduced transaction fees, higher staking rewards, as well as the opportunity to take part in the project’s governance.

BEST’s Competitive Staking Rewards Help Pull Investors In Best wallet has raised more than $6.8 million through its ongoing ICO, which is rapidly gaining traction in the market. With all of the features and benefits the project offers, it’s no wonder buyers are betting big on Best Wallet’s future.

There is also an attractive staking opportunity on offer to buyers at this early stage. Investors who buy and stake BEST tokens now unlock access to a 283% annual yield. To gain access to these passive crypto rewards, investors will need to acquire BEST tokens using the simple buy widget embedded on the project’s website.

Selling for $0.02355, BEST can be purchased with both crypto and bank card. After buying tokens, investors can then head over to the staking page on the website to put their tokens to work for the high rewards.

Buyers who want to acquire the crypto at the best presale price will want to act quickly because scheduled increases will sell the token’s price as its ICO progresses. The next adjustment is set to happen in less than 42 hours.

Purchase and stake BEST here.

Related Articles: