Cardano (ADA) Trading Under Heavy Price Fluctuations

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Ayush Malviyahttps://www.thecoinrepublic.com/
Ayush Malviya has recently joined as a technical market reporter for Thecoinrepublic- the Leading cryptocurrency news site. He believes that there is a broad scope in Crypto market and blockchain. Thats why he loves to gather knowledge about it and like to analyse the market pattern.
  • ADA prices trying to rise against the price level of $ 0.3270, failing to make a fierce stand.
  • There is a sudden loss of -1.05% in the prices and now trading between the price levels of $0.0300 and $0.0290
  • The ADA/BTC pair is performing negatively with the loss of -0.34% bringing the levels to 0.00000443.

The ADA prices again climbed back to the level of $0.029 and trying to conquer the resistance level of $ 0.0320.

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The bulls are seeking a strong momentum and to surge the level of $0.0320, ADA prices are currently under serious situation as again they are at the point that pushes them down and they are unable to find a major breakthrough.

ADA prices are again here due to the strong support of $0.250 as it is supporting prices to keep on maintaining an upward surge but prices are in the very need to find a new support level near their current trading position in regard to climb up higher.

Currently ADA’s market capitalization is $761,763,531 USD with volume traded of $83,886,749 USD and circulating supply of 25,927,070,538 ADA. 

Cardano Price Analysis

Cardano1
Source:tradingview

The technical chart reflects that prices are trading in a flat manner with volatility in the prices. There is an overall bearish momentum in all aspects of the chart.

The technical indicators and oscillators showing that there is a sudden increase in the selling volume of altcoin leading to bearish momentum.

MACD level is trading with heavy fluctuation but the bears are about to get a hold as the selling volume caught up with the buying volume.

24hr-RSI reaches the crucial level of 50 after making negative divergence and started trading here.

The 24hr-CCI is falling downwards from the top of the normal region due to the decrease in the buying volume of crypto currency.

Resistance Level $ 0.0320
Support level $0.0250

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