Logo
Cardano Ecosystem

Elevenews

10/04/2022

·

433 views


Here’s What You Can Expect From the Cardano(ADA) Price Rally During the Bullish Uptober

The Cardano price has remained extremely bearish ever since it lost the crucial $1 mark. Moreover, the extreme market conditions compelled the price to remain drained below the $0.6 levels of the past couple of months. The bears also attempted to...

Here’s What You Can Expect From the Cardano(ADA) Price Rally During the Bullish Uptober

The Cardano price has remained extremely bearish ever since it lost the crucial $1 mark. Moreover, the extreme market conditions compelled the price to remain drained below the $0.6 levels of the past couple of months. The bears also attempted to drag the price lower below the crucial resistance, but the asset managed to rebound and is presently trying hard to lay down a firm upswing soon. 

The ADA price has been experiencing a major liquidity crisis since mid-June, and due to that, the volatility of the asset has been declining largely. The asset has been on a constant move to reach the upper resistance, but failed each time, marking the lows at $0.425 and hitting the sell-stop levels to attract the bulls. 

However, the bulls continue to remain distinct till now as the recent development could see ADA price clearing the $0.472 resistance, beyond which an upswing beyond $0.505 may be triggered. 

The ADA price, which was hovering within a bullish falling wedge, appears to have geared up and may slice through the wedge any time from now. The price is facing some hindrance at the upper resistance of the channel, but the lower demand zone may offer a strong base to rebound from. Hence, after a brief consolidation, the ADA price could finely rebound and rise high to reach $0.48 levels very soon. 

On the other hand, if Cardano(ADA) price fails to sustain above $0.425, then it may invalidate the bullish trajectory, displaying the weakness of the bulls. In such a case, the price may drop back to the $0.415 support zone and may consolidate for a while. 

News Source

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 Elevenews

ORIGINAL SOURCE

https://elevenews.com/2022/10/04/heres-w...

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 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

·

760 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)