Cardano (ADA) Loses Its Heat, Price Falls Below $0.048

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.
  • There is a loss of -0.84% in the prices and they are moving in a strong negative momentum above the price level of $0.04800.
  • The ADA/BTC pair is also not performing well as there is a negative change of -7.71% bringing the levels to 0.00000563.

Cardano prices start falling gradually and loses the major support levels like $0.05200, $0.050000, and $0.059000 with current negative divergence. ADA price is in a state to fall down the current support level of 0.04800 if they maintain their current pace, they will suffer a continued bearish momentum.

The bull’s current hope is $0.48000 as it is providing the momentum to the prices. Through this support level, they did acquire a surge which again ends up fading.

The current support line of $0.04800 had provided a major bullish momentum to ADA prices till now and again it’s up to him to help prices in achieving their desired goals.

Currently ADA’s market capitalization is $1,233,292,152 USD with volume traded of $166,151,855 USD and circulating supply of 25,927,070,538 ADA.

Cardano Price Analysis

cardano1
Source:tradingview

The technical chart reflects that a sudden decrease in all aspects of the chart, as bears are emerging.

Cardano Bulls are also presenting the resistance. Prices started acquiring heavy bearish momentum due to the emergence of negative nature in the market.

The technical indicators and oscillators showing that there is an increase in the buying volume of the cryptocurrency

MACD levels are showing bulls are having a tight competition with the bears. Currently, there are major variations in momentum and they are at a neutral position with each other.

24hr-RSI is moving with a heavy negative trend from the heavy bullish region and stopped right above the crucial level of 55.

The 24hr-CCI is also not performing well as it reaches the normal zone from the heights of the overbuying region and still falling in the normal zone.

Resistance Level $ 0.05030

Support level $0.048000

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