ADA bounced back from the support of $1.0
- ADA coin price is at $1.36 with a 1.06% profit, on Saturday’s trading session
- On the special event CardanoAfrica, IOHK announced partnership with world mobile.
- The ADA/BTC pair was trading at 0.00002320 BTC with a loss of 7.26%
The 4-hour technical chart of ADA coin price forecasts a positive trend. According to pivot points, ADA’s critical support level is placed at $1.00. Whereas if it moves up, the critical resistance level to watch is $1.55. While diving into the weekly chart of a 4-hour time frame, it completes a pin bar candlestick pattern representing bulls are in control.
EMA- (20,50) acts as another strong support in the coin. EMA-20 (blue) intersects above EMA-50 (purple), which projects a positive trend. The price is sustaining above EMA-20 (blue). Investors may perceive a positive crossover in the EMA, and the price will also follow the positive trend.
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RSI indicator (BULLISH), with a value of 57.35, indicates a buy signal in the coin. Moreover, Investors can see a flat slope in the index, which may surge in future trading sessions.
The volume of (16.46M) is above the Volume MA (13.88M) of 20-days. High buying pressure is required in Cardano to drive its price to higher levels.
Cardano Teams Up With World Mobile In Africa To Build A New Mobile Network
John O’Connor, director of African Operations at IOHK, posted a tweet on April 30, saying that “they will be using Cardano liquidity to offer real loans, providing faster, cheaper data than anything on the market. Starting in Tanzania, providing 50% price, 2x speed.”
ADA Coin Price Action Remains Stable And Maintains The Volume
ADA coin price traded at $1.36 with a gain of 1.06% in the last 24-hour and 14.08% up in the weekly time frame. Furthermore, ADA bounced back from the support of $1.0. In contrast, the market capitalization stands at $43 billion. Technically, investors can perceive a positive crossover in the EMA, and the price is above the EMA-20. RSI index showcases a flat slope. Moreover, the price movement can be towards the resistance of $1.56 in future trading sessions.
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