Logo
Cardano Ecosystem

Elevenews

12/16/2022

·

340 views


Cardano(ADA) Price Flashes Bullish Signals, This is How it May Reach $1 in 2023! - ELEVENEWS

The Cardano price with the fresh bearish action dropped below the crucial support that it held for nearly a month. Even though the volume remained relatively low, the bears managed to drag the price below the...

Cardano(ADA) Price Flashes Bullish Signals, This is How it May Reach $1 in 2023! - ELEVENEWS

The Cardano price with the fresh bearish action dropped below the crucial support that it held for nearly a month. Even though the volume remained relatively low, the bears managed to drag the price below the crucial levels. However, a more negative impulse is all set to mount on the price due to which, the ADA price may form new lows before the end of 2022. 

ADA price previously broke from the initial support levels at $0.45 and by slicing through the current support at $0.3, the token has formed a bearish pattern On a daily chart, the Bollinger bands have broken after being compressed for some time, the MACD is flashing possibility of a bearish cross-over while RSI has hit the lower support. 

Despite huge bearish clouds hovering over the ADA price, the token is believed to surge any time from now. 

As displayed in the above chart, the ADA price is trading within a falling wedge that began at the start of 2022. Moreover, the price has already reached the lower support and hence a rebound appears to be imminent. With a rebound, the ADA price is believed to reclaim its lost levels above $0.3 initially and later elevate to test the upper resistance zone between $0.55 to $0.59. This could be considered as a trend reversal zone if flipped could lay down a significant upswing ahead. 

Currently, the entire cryptospace appears to be pretty uncertain as the support majority of the assets are failing to underpin their support levels. With the bearish close for the day, an upswing may trigger a firm recovery toward the upper resistance until the weekend.

Join our Telegram Channel

AD

Delegate Your Voting Power to FEED DRep in Cardano Governance.

DRep ID: drep12ukt4ctzmtf6l5rj76cddgf3dvuy0lfz7uky08jfvgr9ugaapz4 | We are driven to register as a DRep by our deep dedication to the Cardano ecosystem and our aspiration to take an active role in its development, ensuring that its progress stays true to the principles of decentralization, security, and community empowerment.DELEGATE VOTING POWER!


Read Original Article on Elevenews

ORIGINAL SOURCE

https://elevenews.com/2022/12/16/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.


An image that says Learn Blockchain technology and get ahead in the industry with a link to the Cardano Academy.

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

·

670 views

Related News

See more

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)