2018-12-18 17:24 |
Cardano (ADA) Weekly Chart – Source: Tradingview.com
A look at the weekly chart for ADA shows that price has lost 98% of its value since the January 2018 high and is now trading close to the $0.03 level.
It is worth noting that there was significant buyer volume in the third week of September as evidenced by the higher green bar.
Long-Term Outlook Cardano (ADA) 3-Day Chart – Source: Tradingview.comA look at the 3-day chart gives us more information about the price.
We can see that there is some bullish divergence developing in the RSI, and the MACD is close to making a bullish cross.
However, the price is below the 7, 21 and 50 period MA’s and is facing resistance from a thick cloud.
Furthermore, there is strong resistance at the $0.08-0.12 level, due to previous support.
Medium-Term Outlook Cardano (ADA) 1-Day Chart – Source: Tradingview.comFor a more detailed analysis, the daily chart shows us that price is moving in a downward channel resembling a descending wedge.
Furthermore, there is a very strong bullish divergence developing in the RSI.
It is interesting to see whether the price will make a run for the resistance line or fall back to the descending support line.
Short-Term Outlook Cardano (ADA) 6-Hour Chart – Source: Tradingview.comFinally, a look at the 6-hr chart gives us a clearer view of the descending wedge.
Price has finally moved above the 7 and 21 period averages, which are possibly making a bullish cross and the MACD is about to cross 0.
However, the price just reached the cloud and is facing resistance.
Conclusions: Price has fallen 98% since the January High. Currently trading at $0.03. Price is moving in a descending wedge. DISCLAIMER: Investing or trading in digital assets, such as those featured here, is extremely speculative and carries substantial risk. This analysis should not be considered investment advice, use it for informational purposes only. Historical performance of the assets discussed is not indicative of future performance. Statements, analysis, and information on blokt and associated or linked sites do not necessarily match the opinion of blokt. This analysis should not be interpreted as advice to buy, sell or hold and should not be taken as an endorsement or recommendation of a particular asset.Cardano (ADA): Price Is Back to Opening Levels, What Will Happen Next? was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.
Similar to Notcoin - Blum - Airdrops In 2024
Cardano (ADA) на Currencies.ru
|
