Logo
Cardano Ecosystem

BitcoinEthereumNews

03/15/2023

·

96 views


Cardano Consolidates Above $0.34 As Sellers Threaten Short Selling - BitcoinEthereumNews.com

Mar 15, 2023 at 11:30 // Price The price of Cardano (ADA) is correcting higher, but the price movement has stalled near the 21-day moving average line.Cardano price long-term forecasts: bearish At...

Cardano Consolidates Above $0.34 As Sellers Threaten Short Selling - BitcoinEthereumNews.com

Mar 15, 2023 at 11:30 // Price

Cardano is in the bearish zone as it trades between $0.30 and $0.34

The price of Cardano (ADA) is correcting higher, but the price movement has stalled near the 21-day moving average line.

Cardano price long-term forecasts: bearish


At the time of writing, the cryptocurrency is trading for $0.34. Buyers’ attempts to keep the price above the moving average lines are facing strong resistance. If the buyers manage to overcome the moving average lines, Cardano will rise once again and regain its previous high of $0.42. However, the price level may fall if ADA is rejected at the recent high. ADA will fall above the support level of $0.30. If the current support level is breached, the price will come under further selling pressure until it falls to a low of $0.22. The altcoin is currently regaining strength above the $0.34 support level.


Cardano indicator analysis


Cardano remains in the downtrend zone despite the upside retracement. It is at the 48 level of the Relative Strength Index for the 14 period. The altcoin could fall even further. The price of ADA is moving below the daily Stochastic level of 40. The price bars of the cryptocurrency are below their moving average lines, which could lead to a crash.


ADAUSD(Daily Chart) - March 15.23.jpg


Technical indicators


Key resistance zones: $1.00, $1.20, $1.40



Key support zones: $0.60, $0.40, $0.20


What is the next move for Cardano?


Cardano is in the bearish zone as it trades between $0.30 and $0.34. The decline could continue if the upward correction is unsuccessful. Price action has stalled due to doji candlesticks, small uncertain candlesticks.


ADAUSD( 4 Hour Chart) - March 15.23.jpg


Disclaimer. This analysis and forecast are the personal opinions of the author and are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol. Readers should do their own research before investing in funds.

Source: https://coinidol.com/cardano-consolidates-0-34/

Post navigation

AD

NotifyLog - One stop tool for events tracking and analytics

NotifyLog is a powerful tool for events tracking and analytics. It helps you to track events from your website, mobile app, and server.CREATE YOUR FREE ACCOUNT


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.


NotifyLog - One stop tool for events tracking and analytics

More from BitcoinEthereumNews

See more
ADA Surges 15% Off Critical Support, Here's the Next Target (Cardano Price Analysis) - BitcoinEthereumNews.com
BitcoinEthereumNews
ADA Surges 15% Off Critical Support, Here's the Next Target (Cardano Price Analysis) - BitcoinEthereumNews.com

03/15/2023

·

280 views

Related News

See more
WingRiders Governance Token

Featured News

See more
WingRiders Governance Token



    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)
NotifyLog - One stop tool for events tracking and analytics