Cardano Price In Bearish Hands; What Next?
The post Cardano Price In Bearish Hands; What Next? appeared on BitcoinEthereumNews.com. The price action of the ADA crypto showed that selling pressure was noted on the charts and was in a downtrend, forming lower lows over the past few months. Moreover, due to declining investor interest, trading volume was below average. Furthermore, the ADA showed a decline in user activity which also reacted as a negative sentiment for the crypto and led to bearishness in the charts. The ongoing trend favors bears, and the crypto was also in a corrective phase, which made buyers cautious. Moreover, the ADA trades below the significant moving averages and tries to attain the 50-day EMA to start a recovery rally. At the time of writing, the ADA price is trading at $0.2517 with an intraday gain of 1.74%, showing a bounce from the lower trendline near the support mark of $0.2348. Moreover, the intraday trading volume increased is $109.964 Million and the market cap is $11.322 Million. Crypto has had a poor performance over the years. Year-to-date it gave nominal returns of 2.44% and -43.28% in the span of 6 months. In the last 1 month, it gave a nominal return of 0.40% and a negative return of -1.87% in the last seven days. Indicating a Bearish momentum continuing till now. Technical Analysis of ADA Crypto Price in 1-D Timeframe Source: ADA.1D.USD by TradingView At the time of publishing, ADA crypto price is trading below the 50 and 200-day EMAs (Exponential moving averages), which do not support the price trend. The current value of RSI is 49.28 points. The 14 SMA is above the median line at 48.76 points, indicating that the ADA crypto is bearish. The MACD line at -0.0016 and the signal line at -0.0010 are trading sideways. A bearish crossover is observed in the MACD indicator which signals more bearishness for the…
The post Cardano Price In Bearish Hands; What Next? appeared on BitcoinEthereumNews.com.
The price action of the ADA crypto showed that selling pressure was noted on the charts and was in a downtrend, forming lower lows over the past few months. Moreover, due to declining investor interest, trading volume was below average. Furthermore, the ADA showed a decline in user activity which also reacted as a negative sentiment for the crypto and led to bearishness in the charts. The ongoing trend favors bears, and the crypto was also in a corrective phase, which made buyers cautious. Moreover, the ADA trades below the significant moving averages and tries to attain the 50-day EMA to start a recovery rally. At the time of writing, the ADA price is trading at $0.2517 with an intraday gain of 1.74%, showing a bounce from the lower trendline near the support mark of $0.2348. Moreover, the intraday trading volume increased is $109.964 Million and the market cap is $11.322 Million. Crypto has had a poor performance over the years. Year-to-date it gave nominal returns of 2.44% and -43.28% in the span of 6 months. In the last 1 month, it gave a nominal return of 0.40% and a negative return of -1.87% in the last seven days. Indicating a Bearish momentum continuing till now. Technical Analysis of ADA Crypto Price in 1-D Timeframe Source: ADA.1D.USD by TradingView At the time of publishing, ADA crypto price is trading below the 50 and 200-day EMAs (Exponential moving averages), which do not support the price trend. The current value of RSI is 49.28 points. The 14 SMA is above the median line at 48.76 points, indicating that the ADA crypto is bearish. The MACD line at -0.0016 and the signal line at -0.0010 are trading sideways. A bearish crossover is observed in the MACD indicator which signals more bearishness for the…
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