Cardano Price Analysis & Prediction (May 4th) – ADA Faces Key Support After Restarting Bearish, Will it Hold?

2023-5-5 08:43

Cardano fell from a vital resistance level in mid-April after witnessing a steady increase for a month. It has found temporal support, but there’s not enough volatility to initiate a buy. The support may collapse soon.

The price of ADA has been on the rise since the start of the year but the past weeks of drops have subjected the trend to a retracement movement.

It failed to push above the $0.42 level during last week’s recovery. That level eventually stopped buying pressure and the price fell back to the price level it recovered from recently. The sellers are poised for more gains.

Considering, the ascending channel pattern forming on the daily chart, ADA is still trying to connect the lower boundary for support. Although it has encountered support at $0.377 for the past two weeks. A break below at that support should trigger more sell actions.

If the price slips to the channel’s lower boundary, we can expect the price to remain calm for a while before initiating a fresh buy. However, if the price collapses below the channel, ADA is likely to witness a bigger price movement towards $0.3 and $0.25.

The price has been consolidating for the past three with no signs of recovery. The daily volume indicator is on the low, suggesting that sellers are still present. We can expect a price recovery as soon as the volume starts to increase.

Cardano’s Key Levels to Watch Source: Tradingview

Below the $0.376 support level, the lower level to watch for a rebound is $0.357. If that level fails to contain selling pressure, the $0.34 level would be the next support to watch out for.

In case of a push, the immediate resistance level to keep in mind is $0.4. More recovery could make the price to reclaim the $0.42 and $0.44 resistance levels, respectively.

Key Resistance Levels: $0.4, $0.42, $0.44

Key Support Levels: $0.376, $0.357, $0.34

Spot Price: $0.384 Trend: Bearish Volatility: Low

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

Image Source: Photo by Traxer on Unsplash // Image Effects by Colorcinch

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
Доступно / Всего 0 LST

support may cardano temporal increase month found

Источник: nulltx.com

support may → Результатов: 126


Solana Price Analysis & Prediction (May 1st) – SOL is Likely to Repeat This Pattern From $20, Watch out For Breakout Soon

Solana is up 2.70%, with a little volatility over the last 24 hours. It recently found support and appeared to be building up for a fresh increase. But the volatility looks low right now. Following the neutral-bearish mode over the past few days, SOL found a solid level at $20 during Wednesday’s surge and held […]

2023-5-2 09:48


Binance назвала дату вывода Ethereum из стейкинга

Криптовалютная биржа Binance откроет вывод ETH из стейкинга с 19 апреля, в 5:00 (Киев/МСК).  #Binance will support $ETH 2.0 Staking withdrawals starting from April 19, 08:00 UTC. Due to the processing limitations on the $ETH network, ETH withdrawal requests may take up to 15 days to several weeks to be fully processed. More details here […]

2023-4-14 18:53


Bitcoin Hash Rate Registers New Highs, A Selloff Imminent?

Based on CryptoQuant data, one observer notes that whenever the Bitcoin hash rate records new highs, as is the case in late January 2023, coin prices tend to retrace as the upside momentum fades.   Extending this preview on current BTC rates, the analyst predicts that prices may rise above the current resistance level at $23,800 to $25,500 before dumping below immediate support lines towards $20,000, or worse.

2023-1-27 11:43


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Cardano price prediction - Perfect time to buy ADA after 25% dip?

ADA’s price has fallen by 25% in the last 30 days. Readings from key on-chain metrics suggest that now might be a good time to buy the altcoin. Cardano [ADA] may be due for a price rally aThe post Cardano price prediction - Perfect time to buy ADA after 25% dip? appeared first on AMBCrypto.

Cardano: Analyzing what's going wrong as ADA's price struggles around $0.45

ADA continued the stop-and-start price trend. Active addresses increased slightly. After experiencing a two-day downtrend, the recent uptrend in Cardano [ADA] would certainly be welcomed by The post Cardano: Analyzing what's going wrong as ADA's price struggles around $0.45 appeared first on AMBCrypto.

Брокерской компании Robinhood придется ответить в суде за торговлю криптоактивами

Брокер Robinhood получил уведомление Комиссии по ценным бумагам и биржам США: ведомство планирует подать на компанию в суд за нарушение закона о ценных бумагах. На фоне новости акции фирмы сразу упали на 2,5 %.