Cardano (ADA) Price Analysis : ADA Prices Suffering Down Trending Market.

Vasu Singhal
Vasu Singhal is a management student and a stock market trader. He believes that investment avenues and opportunities are very diversified. Therefore, he has an interest in blockchain technology too. He likes to evaluate best investments available in the financial market with showcasing the required skills.
  • Regarding the market conditions, Cardano is unable to maintain a price sustainability in its price as they are struggling a lot on the crucial normal level.
  • The ADA/BTC pair is performing positively with a profit of 1.05% bringing the levels to 0.00000491.

CARDANO1

The 7day-weekly chart indicates that prices are very vulnerable to the down-trending nature of the market. Prices are unable to maintain a static climb above the normal region.

There is a strong resistance of $0.03. After reaching the lowest limit possible last week, prices tried to climb up many times but a strong resistance of $0.03 didn’t allow them to. It also pushed prices below the crucial normal level. The heavy downfall in the market last week made it very hard for the prices to climb back again.

The market capitalization is $676,134,827 USD with volume traded $80,385,263 and circulating supply of 25,927,070,538 ADA.

Cardano(ADA) Technical Analysis:

CARDANO2
Source:tradingview

The technical chart shows that Cardano prices are unable to make a climb and suffering fast changes on the crucial normal level. The down trending nature of the market put bears in a dominating position that prices are unable to acquire a major stand.

The technical indicators and oscillators are showing an increase in the selling of the cryptocurrency.

MACD levels are in the bearish zone due to the heavy selling volume of crypto assets. Down trending nature of the market is making it sever for ADA.

The 24hr- RSI had positive divergence due to the buying trade of crypto assets, yet it was not sufficient as it failed to reach the bullish region of the normal level.

The 24hr-CCI calls off its day after touching the depth of the overselling region.

Resistance level: $ 0.027
Support Level: $0.025

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