Logo
Cardano Ecosystem

BitcoinEthereumNews

10/26/2021

·

632 views


Cardano Price Stuck in Sideways trade, Here’s When ADA will Breakout! – Coinpedia – Fintech & Cryptocurreny News Media

The post Cardano Price Stuck in Sideways trade, Here’s When ADA will Breakout! – Coinpedia – Fintech & Cryptocurreny News Media appeared on BitcoinEthereumNews.com. The cryptocurrency market has started the new week on a positive note, with all of...

Cardano Price Stuck in Sideways trade, Here’s When ADA will Breakout! – Coinpedia – Fintech & Cryptocurreny News Media

The cryptocurrency market has started the new week on a positive note, with all of the top ten coins trading in the green. Yesterday, the price of Bitcoin (BTC) fell back to $64,895 and fought to stay above it for the first half of the day. 

Cardano in sideways trade 

The Cardano price has remained sideways, with the coin’s price remaining below the 9-day and 21-day moving averages. 

Cardano’s price is falling below the 9-day and 21-day moving averages when compared to Bitcoin. The long-term 9-day moving average is projected to bearishly cross below the channel’s lower border. The Cardano market is currently in a slump, with the price reaching a daily low of 3397 SAT. 

Popular analyst Micheal Van De Poppe too has pointed out the bearish/sideways momentum ADA has been experiencing off late. He depicts this in his recent tweet.

A Breakout On the way?

If the bulls can drive the price above the 9-day and 21-day moving averages, the Cardano price is likely to break out. Meanwhile, the Cardano price may continue to rise by breaching above the moving averages, maintaining a solid upward trend. As a result, any further bullish movement might push the coin to resistance levels of $2.50, $2.60, and $2.70.

The bullish movement may be invalidated if the bears break below the lower border of the channel, and the Cardano price falls below the negative side to support levels of $1.85, $1.75, and $1.65, as seen on the daily chart.

Meanwhile, the technical indicator Relative Strength Index (14) signal line is falling below 50, indicating that the market is sliding sideways. 

Source: https://coinpedia.org/price-analysis/cardano-price-stuck-in-sideways-trade-heres-when-ada-will-breakout/


YouTube video

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/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
Cardano Djed Stablecoin Scores New Listing: Details - BitcoinEthereumNews.com
BitcoinEthereumNews
Cardano Djed Stablecoin Scores New Listing: Details - BitcoinEthereumNews.com

today at 1:53 AM

·

9 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