Cardano Loses Value As It Reaches $0.65

Mar 29, 2024 at 22:00 // Price
Author
Coin Idol

The price of Cardano (ADA) recovers from its fall below the moving averages.

Long-term prognosis for the Cardano price: bearish

Apart from the current downtrend, the altcoin is in an uptrend that has moved away from its previous downtrend. The uptrend has stalled at the high of $0.80. The altcoin fell after two rejections at the $0.80 high. The bulls bought the declines from a low of $0.58.

Today, the altcoin rose to a high of $0.65 but remained between the moving average lines. Cardano is currently trading between the moving average lines. If the price rises above the 21-day SMA, the cryptocurrency will return to its previous high of $0.80. The positive momentum will continue to the high of $0.92. However, if the bullish scenario fails, Cardano will be forced to trade in a limited range between the moving average lines.

Analysis of the Cardano indicators

The price of the cryptocurrency has risen above the 50-day SMA. The ADA price will fluctuate when trading between the moving average lines. Prices can break out and fall as they trade in a limited range. Price action has been delayed by the presence of doji candlesticks.

Technical Indicators

Key resistance zones: $0.80, $0.85, $0.90

Key support zones: $0.50, $0.45, $0.40

ADAUSD_(Daily Chart) –March 27.jpg

What is the next move for Cardano?

The price of Cardano has continued to rise, but the uptrend has ended. The current price of the cryptocurrency is between $0.58 and $0.80. The uptrend will resume when the price breaks through the resistance at $0.80.

ADAUSD_(4 -Hour Chart) – March 27.jpg

Disclaimer. This Analysis and forecast are the personal opinions of the author and are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol.com. Readers should do their research before investing in funds.

Comments

Post a Comment

Popular posts from this blog

Quant Pauses Over $115, But Tends To Move In A Range

Image
Jan 06, 2024 at 10:09 // Price Author Coin Idol The price of Quant (QNT) is falling after hitting the $150 resistance level twice. Price Analysis by Coinidol.com. Long-term Quant price prediction: ranging This will be the second rejection of the altcoin at its current high. QNT could reach its high of $230 if the current resistance is broken. The cryptocurrency value will be pushed back to its previous highs by buying after a previous decline. The current value of the coin is $120 at the time of writing. The current decline could go below the moving average...
Read more

Dogecoin Price Prediction: DOGE Surges 22% In A Week As This Innovative Staking Meme Coin Storms Toward $3 Million

Image
The Dogecoin price has surged 22% in the past week even after it fell 2% in the last 24 hours to trade at $0.170 as of 00:35 a.m. EST on trading volume that plunged 37% to $2.06 billion. Dogecoin Price Prediction: DOGE Aiming For A Bullish Rally The Dogecoin price has been in an uptrend in October, as the bulls used the $0.11 support zone to push the price through a markup phase, according to data from GeckoTerminal . DOGE then went through a consolidation phase from mid-October within the $0.1460 range. The Dogecoin price bulls then used the lower boundary of the sideways pattern at $0.13 as the support to push DOGE through a parabolic curve, which indicates strong momentum. DOGE now trades above both the 50-day and 200-day Simple Moving Averages (SMAs), which supports the price’s general bullish outlook. The RSI is in bullish territory but not yet overbought, currently at 65, meaning there’s still potential for further gains before any risk of a reversal. If the RSI ...
Read more

Netflix’s Bitconned Exposes Crypto’s Dark Side, Unveils Centra Tech’s Scheme

Netflix documentary “Bitconned” unveils details of a crypto scam orchestrated by Centra Tech. The documentary highlights risks in the unregulated crypto space, emphasizing deceptive projects. Centra Tech, the subject of the new film, is one of several high-profile crypto scams in recent years. In the recent documentary release from Netflix titled “Bitconned,” viewers are presented with a comprehensive exploration of the nefarious world of crypto, unraveling a tale of deception, fraud, and the ominous rise of dubious crypto ventures. Centra Tech, the subject of the new film, is one of several high-profile crypto scams in recent years. Touted as a revolutionary force in the crypto landscape, Centra Tech, was, in reality, a house of cards built on deceit.  The documentary uncovers the mechanics behind the scenes, showing how Centra Tech managed to rake in millions of dollars daily. Ray Trapani, along with co-founders Sohrab Sharm...
Read more