Cardano Price Analysis: ADA Is Glaringly Impotent To Make A Notable Move

2019-10-14 16:18

Major support level: horizontal support at $0.039Major resistance level: confluence of two Fib levels at $0.052Upside potential: picking up volume to slash through couple of Fib levels to reach the mentioned resistanceDownside potential: dropping down to the support at $0.039 or, in case of a stronger sell-off to $0.034

ADA is currently at $0.41 or 502 sats, being positive in the last 24 hours on the both pair by 1.19% and 1.72% respectively. However, trading volume is, as it often is the case with ADA, very low which makes any potential move up less likely.

Since ADA price movements are highly susceptible to the market wide oscillations, we will first examine the total market cap before delving into the Cardano price analysis.

Total market cap analysis

Broad crypto market is stuck in the area between $220 and $230 billions. If we plot a chart of its price action, we can see that the market is hovering above a strong support area of $214 billion (data from Tradinview, off by approx $8 billion to CMC data).

The price is squeezed between the EMA20 and horizontal support line at $216 billion.

If we zoom out and throw a glance on the weekly chart price action, we can see that the price might touch on the Fib382 level at $205 before bouncing back up to the Fib50 at $240 billion.

We need to take this into account before charting any individual coin price action.

Read our updated review of Cex.io exchange here.

ADAUSDMajor support level: horizontal support at $0.039Major resistance level: confluence of two Fib levels at $0.052Upside potential: picking up volume to slash through couple of Fib levels to reach the mentioned resistanceDownside potential: dropping down to the support at $0.039 or, in case of a stronger sell-off to $0.034Most likely scenario: lingering in the borders of these two support-resistance heights, unable to make a more noteworthy move in either direction.

ADA is idling above the major support zone of $.034 with no sign of strength to get itself unstuck from this level. It is hovering right on the EMA20 and below MA50 which would act as a first notable resistance at the $0.44 zone.

Read our updated guide on best ADA wallets.

ADABTCMajor support zone: 457 satsMajor resistance zone: 524 sats where it already got rejected two timesUpside potential: bursting through the resistance at 526 sats to recover the losses from September and reaching 650 sats height, since there are no major obstacles above the 524 sats zone.Downside potential: dropping to the 457 sats zone. If that one fails to hold, hitting the local bottom at 402 is the next most likely option.

Smaller time frames illustrate ADA gathering pace after the small dip, getting ready to test the 524 zone. If it gets spurned at that height again, that would make a double top pattern, a bearish reversal formation that would send ADA back to the square one.

The post Cardano Price Analysis: ADA Is Glaringly Impotent To Make A Notable Move appeared first on CaptainAltcoin.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Lendroid Support Token (LST) на Currencies.ru

$ 0.00049 (+0.76%)
Объем 24H $0
Изменеия 24h: 5.17 %, 7d: -58.34 %
Cегодня L: $0.00049 - H: $0.00049
Капитализация $0 Rank 3554
Цена в час новости $ 0.000429 (14.22%)

ada support 039 resistance fib cardano levels

Источник: captainaltcoin.com

ada support → Результатов: 126


Cardano Price Analysis ADA / USD: Deteriorating State

Cardano has a bearish short-term trading outlook, with the ADA / USD pair still trading below critical technical support The four-hour time frame is showing that a bearish breakout from a triangle pattern has occurred The daily time frame continues to show an extremely large inverted head and shoulders pattern Cardano / USD Short-term price […] The post Cardano Price Analysis ADA / USD: Deteriorating State appeared first on Crypto Briefing.

2019-8-6 16:50


Cardano’s Charles Hoskinson expresses intention to create a Google, Facebook-like infrastructure to handle system loads

Prominent leaders of the cryptosphere have taken it upon themselves to promote the space, while clearing the fog that may lead new users away from crypto-adoption. Cardano’s Charles Hoskinson has been one of the most prominent figures in the space, which is also the same reason for the community’s support for Cardano [ADA].

2019-6-6 21:30


Cardano (ADA) Price Analysis and Prediction for 2019 – Time To Reclaim The Lost Ground (Mid May Update)

Mid May Update: Technicals ADA had a tough April and begining of May – it dropped through the ascending trendline that acted as the support and then penetrated another horizontal support line at 1087 satoshis, a strong zone formed back in January 2019, defended and used as the rebound area on multiple ocassions in January […] The post Cardano (ADA) Price Analysis and Prediction for 2019 – Time To Reclaim The Lost Ground (Mid May Update) appeared first on CaptainAltcoin.

2019-5-14 18:42


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

What is 2020 Preparing for Cryptocurrencies?

Blockchain technology and cryptocurrencies have left us fascinated. Funnily enough, blockchain technology was once touted as a bubble bound to fail surviving the tryst of times. Not only has it survived, but finds its application in several fields of business, including the energy sector, the healthcare sector and tourism.

IOTA Use Cases Rapidly Expanding: Tangle To Solve World’s Waste Problem

The Biota team wants to use IOTA technology to tackle the waste problem. The Tangle will help develop a deposit system that rewards people for collecting plastic waste. IOTA technology for waste separation Decentralised technologies are not necessarily perceived by the public to be the best in terms of energy efficiency and CO2 emissions.

LocalBitcoins Trade Volume Hits Lowest Point Since 2017

At its highest point this year, the platform moved over USD 70,000,000 in one week. Increased personal data required by the platform could influence the decline. Bitcoin (BTC) trades through the LocalBitcoins platform have fallen to their lowest levels since August 2017.

Can The Blazing Fast EOS 2.0 Save Eos, The Token?

The crypto currency EOS is known to many crypto users as the longest ICO of all time. The EOSIO 2.0 update gives you the opportunity to take a closer look at the project and the latest changes. These are of particular interest as they make the network more powerful as well as making dApp developers’ […]The post Can The Blazing Fast EOS 2.0 Save Eos, The Token? appeared first on CaptainAltcoin.