Crypto Weekly
Subscribe
No Result
View All Result
Crypto Weekly
  • Home
  • News
    • Bitcoin
    • Binance
    • Ripple
    • Ethereum
    • Cardano
  • Learn
    • Crypto 101
    • Crypto Wallets
    • Crypo Investing
  • Regulation
  • Advertise with us
  • Subscribe
No Result
View All Result
Crypto Weekly Magazine
No Result
View All Result
  • Home
  • News
  • Learn
  • Regulation
  • Advertise with us
  • Subscribe

Cardano Price Analysis: Downfall continues as bulls are crushed under bearish pressure

by
November 27, 2022
in cardano, News
0
Cardano Price Analysis: Downfall continues as bulls are crushed under bearish pressure

Cardano price analysis reveals that the cryptocurrency has been facing a downward trend today as the bears are in control of the market and are likely to maintain their momentum. The bears have caused a decrease in the price up to the $0.318 level.

Cardano is ranked number 9 in terms of cryptocurrency, putting its total market cap at roughly $10,954,783,771.ADA has seen a decrease in its total 24-hour trading volume as the figure now stands at $174,514,763  which is a 13.8% drop over the last day. The price of Cardano is nearer to its 24-hour high of $0.3219, with its 24-hour low at $0.3122.

ADA/USD 1-day price chart: Bears in control as Cardano prices fail to breakout

The 1-day Cardano price analysis shows that the ADA/USD has been on a downtrend last 24 hours. The next few hours of trading are crucial for the market as the market is expected to make a move out of the recent consolidation. The market is expected to break out to the upside or downside in the near term. The bears are pulling down the price levels and are still succeeding in maintaining it as the price has gone down to $0.318.

ADA/USD 1-day price chart, Source: TradingView

The Relative Strength Index (RSI) is currently at 38.53, indicating that the bears are in control of the market at this time while the Bollinger bands is increasing, suggesting that further downtrends are taking place as the volatility increases. The upper band of the Bollinger bands indicator is touching the $0.364 point, whereas their lower band is present at a $0.292 margin. The recent defeat has marked the price below the moving average (MA) level, i.e., $0.3150 as well.

4-hour Cardano price analysis: Latest developments

The 4-hour Cardano price analysis confirms that a bearish trend has been at its peak. The bears have maintained their lead quite efficiently by bringing the price down to the $0.318 level. The price might move towards a new low, and the bearish momentum seems to be intensifying every hour.

ADA/USD 4-hour price chart, Source: TradingView

The moving average is still quite high and is settled at the $0.3166 position for now. The volatility is low as the upper Bollinger band has moved to the $0.3107position, whereas the lower Bollinger band is at $0.3197. The Relative Strength Index (RSI) for ADA/USD is currently at 51.03, which reveals that the market is neither oversold nor overbought.

Cardano price analysis

Based on the current Cardano price analysis, it is evident that the bearish momentum is strong and has seized control of the market. The bulls have been crushed under massive selling pressure in today’s trading session, and a new low looks imminent. The trend line has also been breached to signal further downward movement in ADA prices.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Previous Post

Bitcoin mining revenue lowest in two years, hash rate on the decline

Next Post

Bitcoin addresses holding at least 1 BTC close in to a million

Next Post
Bitcoin addresses holding at least 1 BTC close in to a million

Bitcoin addresses holding at least 1 BTC close in to a million

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Got a Story tip? Email Contact@cryptoweeklymag.com

CMC Coin

A marketing-focused coin w/ a unique set of tokenomics & incredible use cases! The official coin of Crypto Weekly Mag!
Learn More

News

Recent Posts
  • Bitcoin on-chain data and BTC’s recent price rally point to a healthier ecosystem
  • Bitcoin mining advocate is going state-to-state to educate US lawmakers
  • Ethereum price analysis: ETH/USD recovers back to $1,593 after a bullish  breakout
  • What is Aptos? Features, Tokenomics, and Price Prediction
  • How Can Cryptocurrencies be Frozen on a Blockchain?
  • What is Leverage Trading in Crypto
  • Rumor has it that Dogecoin could shift to proof-of-stake — What does that mean for miners?

Office

Crypto Weekly
71 – 75 Shelton Street
Covent Garden London, UK

Stay Connected

Facebook Twitter Instagram Telegram

© 2022 crypto weekly. All rights reserved

  • Home
  • News
    • Bitcoin
    • Binance
    • Ripple
    • Ethereum
    • Cardano
  • Learn
    • Crypto 101
    • Crypto Wallets
    • Crypo Investing
  • Regulation
  • Advertise with us
  • Subscribe
Translate »