Logo
Cardano Ecosystem

BitcoinEthereumNews

04/01/2022

·

663 views


Cardano Price Needs to Burst Through the $1.2 Wall, Else Tumble Down Heavily Below $1!

The post Cardano Price Needs to Burst Through the $1.2 Wall, Else Tumble Down Heavily Below $1! appeared on BitcoinEthereumNews.com. Cardano price after huge strife has regained the levels above $1 and also has surpassed $1.2 levels. However, the...

Cardano Price Needs to Burst Through the $1.2 Wall, Else Tumble Down Heavily Below $1!

Cardano price after huge strife has regained the levels above $1 and also has surpassed $1.2 levels. However, the recent slash has dragged the price from $1.22 levels to $1.15 and continued until it smashed $1.11 levels. Further, the price flipped a little and reached $1.14 levels at the moment. Despite the interim bullish momentum, the asset is hovering within the bearish clouds and may pull a massive leg down to retest the buy zone around $0.97. 

Cardano (ADA) Price Analysis

  • The ADA price underwent a parabolic recovery slicing through the important resistance levels which are currently acting as a strong support
  • With the recent plunge, the ADA price broke down below the uptrend line and visited the first support at $1.11, but ignited a solid flip at these levels
  • However, the bears still appear pretty active and probably drag the price towards the second support very close to $1 at $1.03. If failed to hold here, then plunging below $1 to hit the strong support around $0.97 is imminent
  • Conversely, the possibility of the asset rebounding strongly emerges as the asset may have completed the extreme bullish pattern of ‘Cup n Handle; and is on the verge to explode.

Cardano (ADA) Technical Analysis(Short-Term)

IndicatorsValue Action
Relative Strength Index(RSI)46.6Neutral
MACD-0.011Sell
Average Directional Index(ADX)37.80Buy
Average True Range(ATR) 0.014Less Volatile

Pivotal Levels

Moving Average (MA)-50:- $1.17

Moving Average (MA)-200:- $1.16

Resistance :- $1.162

Support:- $1.105

Source: https://coinpedia.org/price-analysis/cardano-needs-to-burst-through-the-1-2-wall-else-tumble-down-heavily-below-1/

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)