Logo
Cardano Ecosystem

CryptosRUS

11/30/2021

·

944 views


ADA Is Alive And Ready To Moon, As Long As This Happens…

ADA Price: Cardano may be down, but don’t count it out just yet.  Covered: It’s Alive! ADA Price On The Daily ADA Price On The Hourly Closing Thoughts ADA Price: It’s Alive! After finding support at the 50 Week...

ADA Is Alive And Ready To Moon, As Long As This Happens…

ADA Price: Cardano may be down, but don’t count it out just yet. 

Covered:

  • It’s Alive!
  • ADA Price On The Daily
  • ADA Price On The Hourly
  • Closing Thoughts

ADA Price: It’s Alive!

After finding support at the 50 Week Simple Moving Average (image below, green line), Cardano (Ticker Symbol: ADA) began to rally going into yesterday’s close.  It pushed its way back above an important resistance point at $1.54 USD, and printed a weekly candle with a nice bullish wick to the downside.

Recommended: Is ADA Back From The Dead?

blank

ADA On The Daily

Things are also looking promising on the daily chart for ADA.  In the past few days, we have seen two long wicks to the downside, showing that the market is currently rejecting any prices below $1.54.

This candle pattern could be seen as a cross between a “Tweezer” style bottom, and “Morning Star” formation.  Both of which are reversal patterns to the upside.

We also find the RSI (Relative Strength Index) bouncing at the “Oversold” territory, after finding its lowest point in quite some time.

blank

ADA Price: On The Hourly

On the one-hour chart, we find ADA moving sideways, but holding support at the 20 One Hour Simple Moving Average (image below, yellow line).  Maintaining price action above that line is a sign of strength, and could mean that ADA is getting ready for another move higher.

The NFT Sales You Missed This Week

Recommended: If Polygon MATIC Can Sustain Support Above $2 Dollars…

If the 20 One Hour Simple Moving Average does not hold as support, another backtest of $1.54 should be expected.

Closing Thoughts

In my opinion, the fate of Cardano is now in Bitcoin’s hands.  If Bitcoin can stay strong and continue higher, Cardano will continue higher too.  But if Bitcoin pulls back, then Cardano, and most other cryptocurrencies, will be pulled down with it.

Check out today’s Bitcoin analysis here.

AD

Delegate Your Voting Power to FEED DRep in Cardano Governance.

DRep ID: drep12ukt4ctzmtf6l5rj76cddgf3dvuy0lfz7uky08jfvgr9ugaapz4 | We are driven to register as a DRep by our deep dedication to the Cardano ecosystem and our aspiration to take an active role in its development, ensuring that its progress stays true to the principles of decentralization, security, and community empowerment.DELEGATE VOTING POWER!


Read Original Article on CryptosRUS

ORIGINAL SOURCE

https://cryptosrus.com/ada-is-alive-and-...

Disclaimer: Cardano Feed is a Decentralized News Aggregator that enables journalists, influencers, editors, publishers, websites and community members to share news about the Cardano Ecosystem. User must always do their own research and none of those articles are financial advices. The content is for informational purposes only and does not necessarily reflect our opinion.


An image that says Learn Blockchain technology and get ahead in the industry with a link to the Cardano Academy.

More from CryptosRUS

See more
COTI Announces Succesful Hard Fork for Multi-Token Network Expansion - CryptosRus
CryptosRUS
COTI Announces Succesful Hard Fork for Multi-Token Network Expansion - CryptosRus

12/29/2022

·

880 views

Related News

See more

Featured News

See more



    DEFAULTENGLISH (EN)SPANISH (ES)RUSSIAN (RU)GERMAN (DE)ITALIAN (IT)POLISH (PL)HUNGARIAN (HU)JAPANESE (JA)THAI (TH)ARABIC (AR)VIETNAMESE (VI)PERSIAN (FA)GREEK (EL)INDONESIAN (ID)ROMANIAN (RO)KOREAN (KO)FRENCH (FR)CZECH (CS)PORTUGUESE (PT)TURKISH (TR)