Logo
Cardano Ecosystem

BitcoinEthereumNews

08/03/2022

·

566 views


Cardano (ADA) Price Analysis for August 2

The post Cardano (ADA) Price Analysis for August 2 appeared on BitcoinEthereumNews.com. It seems that the cryptocurrency market needs some time to “rest” as coins are in the red area. ADA/USD Cardano (ADA) has followed the fall of most of...

Cardano (ADA) Price Analysis for August 2

It seems that the cryptocurrency market needs some time to “rest” as coins are in the red area.

Top coins by CoinMarketCap

ADA/USD

Cardano (ADA) has followed the fall of most of the other coins, losing 3.25% of its price share since yesterday.

Top coins by CoinMarketCap

On the hourly chart, Cardano (ADA) is trading in the middle of the narrow range between the support at $0.4899 and the resistance at $0.5035.

Currently, the situation is neither bullish nor bearish, confirming that one should not expect any sharp moves until the end of the day.

ADA/USD chart by Trading View

Cardano (ADA) has bounced back to the support level at $0.4885 on the daily chart. However, the rate has not come back above the vital $0.50 mark, which means that bulls may start losing their initiative. If they cannot return the price above the mentioned zone, the fall might lead to the test of $0.48 soon.

ADA/USD chart by Trading View

From the midterm point of view, Cardano (ADA) has made a false breakout of the $0.4930 mark. But if bulls lose this level, the local bullish trend might come to an end. Such a scenario is relevant until mid-August.

ADA is trading at $0.5020 at press time.

Source: https://u.today/cardano-ada-price-analysis-for-august-2

Post navigation

AD

Proposals Catalyst F14 - Cast your vote, search "Otavio" in the Voting App.

If you are you using your ADA to vote in Cardano’s Project Catalyst don’t forget to voice your vote. We would be excited if you can see, comment, share and vote for us. Tip: To find them its easiest to search for "Otavio"Vote for Us


Read Original Article on BitcoinEthereumNews

ORIGINAL SOURCE

https://bitcoinethereumnews.com/technolo...

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.


More from BitcoinEthereumNews

See more
Cardano (ADA), Solana (SOL), and TMS Network (TMSN) Offer Exciting Opportunities for Crypto Investors in Q3 2023 – Cryptopolitan - BitcoinEthereumNews.com
BitcoinEthereumNews
Cardano (ADA), Solana (SOL), and TMS Network (TMSN) Offer Exciting Opportunities for Crypto Investors in Q3 2023 – Cryptopolitan - BitcoinEthereumNews.com

03/15/2023

·

1.7K views

Related News

See more
Voting for Us - Catalyst Fund 14

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)