Logo
Cardano Ecosystem

BitcoinEthereumNews

10/30/2022

·

236 views


Cardano price analysis: ADA reaches 30-day high at $0.44 which could initiate sell offs

The post Cardano price analysis: ADA reaches 30-day high at $0.44 which could initiate sell offs appeared on BitcoinEthereumNews.com. Cardano price analysis continues to show positive signs, as price reached up to $0.44 during the day’s trade to record...

Cardano price analysis: ADA reaches 30-day high at $0.44 which could initiate sell offs

Cardano price analysis continues to show positive signs, as price reached up to $0.44 during the day’s trade to record a month-long high. ADA looks on course to achieve the $0.5 bullish target for November, after gaining more than 3 percent over the past 24 hours. Price trended upwards for the second successive 24-hour trading session, after Thursday’s 4 percent decline down to $0.38. Support over the current trend sits at $0.35 whereas the next resistance point for ADA would be the September 18 high of $0.488.

The larger cryptocurrency market continued to strengthen from yesterday, as Bitcoin moved into touching distance of the $21,000 mark, whereas Ethereum gained 4 percent to move up to $1,600. Among Altcoins, Dogecoin gained a massive 38 percent to boost up to $0.11, with Ripple consolidating around the $0.47 mark. Meanwhile, Solana rose 2 percent to $32.89, and Polkadot made a 2 percent increment to settle at $6.64.

Screenshot 2022 10 30 at 12.43.05 AMCardano price analysis: Cryptocurrency heat map. Source: Coin360

Cardano price analysis: 24-hour RSI could be headed into overbought zone on daily chart

On the 24-hour candlestick chart for Cardano price analysis, price can be seen building upon yesterday’s upward shift in trend to consolidate upwards. Price picked up more than 3 percent to move up to as high as $0.44, before moving down to $0.42 at the time of writing. This could signal chances for a downward movement in ADA price, as trading volume also rose up by 36 percent over the day’s trade. Price currently sits well above the $0.35 support, along with the 9 and 21-day moving averages and the 50-day exponential moving average (EMA) at $0.39.

ADAUSDT 2022 10 30 00 49 54Cardano price analysis: 24-hour chart. Source: Trading View

The 24-hour relative strength index (RSI) has also raced up to reach up to 60, which could be considered as a move into the overbought zone. ADA bulls could be vary of potential sell offs initiating with the increasing RSI, which make the coming trading sessions moving into next week crucial. Meanwhile, the moving average convergence divergence (MACD) curve continues to show a bullish divergence above the neutral zone, but could retrace downwards according to upcoming price action over the next 24-48 hours where price could retest down to $0.38.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Source: https://www.cryptopolitan.com/cardano-price-analysis-2022-10-29/

Post navigation

AD

World’s First Multi-Token ISPO — By Genius X - Starts on 12th of September, epoch 363!

Genius X, a revolutionary launchpad and business accelerator helping Web3 startups attain speed, scale, and edge, is thrilled to announce the world’s first Multi-Token ISPO.I WANT TO KNOW MORE!


Read Original Article on BitcoinEthereumNews

ORIGINAL SOURCE

https://bitcoinethereumnews.com/economy/...

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
Cardano Stablecoin DJED Now Featured on CoinMarketCap and Coingecko - BitcoinEthereumNews.com
BitcoinEthereumNews
Cardano Stablecoin DJED Now Featured on CoinMarketCap and Coingecko - BitcoinEthereumNews.com

today at 12:14 AM

·

8 views

Related News

See more
WingRiders Governance Token

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)
NotifyLog - One stop tool for events tracking and analyticsWorld’s First Multi-Token ISPO — By Genius X