Logo
Cardano Ecosystem

Elevenews

06/03/2021

·

899 views


Cardano Analysis: Strong Resistance May Return ADA to $0.50

After a drop of almost 60%, Cardano (ADA) has been recovering well from the last market low. With this, the ADA moves towards the previous top, formed between US$ 2.30 and US$ 2.50. What to expect from this cryptoactive...

Cardano Analysis: Strong Resistance May Return ADA to $0.50

After a drop of almost 60%, Cardano (ADA) has been recovering well from the last market low. With this, the ADA moves towards the previous top, formed between US$ 2.30 and US$ 2.50. What to expect from this cryptoactive after recovering half of the last big crash?

Check out today’s review!

weekly chart

Let’s start by looking at the weekly chart. We have the ADA far from the large uptrend line (LTA) and with the ZSCORE indicator in a bearish region, while prices continue to be strong on the upside.

We can see in the coming months the ADA correcting a little stronger, and if that happens, support will be the LTA region close to $0.50.

Daily chart

On the daily chart, we see the price fighting with the $1.80 region, where we have strong resistance. If you don’t break this region, the price may collapse and confirm the bearish move indicated by the ZSCORE.

If we have a dip, a good stop point is in the $1.30 region.

ADA/USDT

If the ADA overcomes the $1.80 resistance, it will still have to face the historic high of $2.30. I manage to break the top, the next target for the short term is $3.30.

ADA/USDT

Conclusion

This is a moment of caution for short and medium term buyers. However, given the strong corrections in recent weeks, we may be in an excellent time for long-term purchases.

Also read: Investor withdraws money from the bank and replaces it with stablecoins

Also read: CVM Director: It’s no use rowing against cryptocurrencies

Also read: Institutions start to abandon Bitcoin in the fall, reveals JPMorgan

Notice: The information contained in this document is not guaranteed, is not intended to be comprehensive, and is strictly for informational purposes only. It should not be considered as an investment/trading recommendation. All information is believed to come from reliable sources. CriptoFácil does not guarantee the accuracy, accuracy, or completeness of the information in its analysis and, therefore, will not be responsible for any losses incurred.

News Source
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 Elevenews

ORIGINAL SOURCE

https://elevenews.com/2021/06/03/cardano...

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 Elevenews

See more
Solana vs Cardano: Which Ethereum Competitor Will Prevail? - ELEVENEWS
Elevenews
Solana vs Cardano: Which Ethereum Competitor Will Prevail? - ELEVENEWS

11/07/2023

·

760 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)