CARDANO PRICE ANALYSIS & PREDICTION (June 26) – ADA Stalls at $0.30 After Two-Week Push, Signals Bearish Pattern on Hourly

2023-6-26 18:59

Cardano looks weak today after recording a double-digit gain in the last 7 days. The weakness came after the bulls failed to push higher since last weekend. It may tap more profits if the bulls resume pressure. 

Last week saw ADA and other altcoins through a significant recovery after dipping to a multi-month low of $0.22 in the past few days, and at the same time brought the price to retest $0.3 – the monthly breakdown level. 

Unfortunately, that level was rejected with a double-top on the hourly and is now looking poise for a drop. Although there’s still room for more recovery if the bulls can reinforce more actions. The daily resistance line is the target to watch for short-term movement. 

Following the potential bearish pattern on the hourly chart, the asset could see a major pullback before it starts to pick up again. And if the price pulls below the holding monthly low, more selling pressure should be expected. 

For now, the trend is still on the bears’ radar. But looking at the market structure from a short-term perspective, ADA is likely to change the trend soon. It must break through the resistance line to confirm a reversal on the daily chart. 

ADA’s Key Levels to Watch Source: TradingView

While the current weakness in Cardano’s price is triggered at $0.3, the $0.323 level is the next resistance to keep in mind if the price continues to recover. There’s also resistance at $0.34 and $0.357 in case of more increase. 

Towards the downsides, the immediate support level to watch for a drop is $0.273, followed by $0.25 and the holding $0.22 level. Below it lies $0.2 if a breakdown occurs.

Key Resistance Levels: $0.30, $0.323, $0.34

Key Support Levels: $0.273, $0.25, $0.22

Spot Price: $0.29 Trend: Bullish Volatility: Low

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

Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news!

Image Source: ximagination/123RF / Image Effects by Colorcinch

Similar to Notcoin - Blum - Airdrops In 2024

origin »

BullshitCoin (BULLS) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Доступно / Всего 0 BULLS

bulls push cardano higher weakness days came

Источник: nulltx.com

bulls push → Результатов: 126


Fantom Surprises With 5% Rally In Last 24 Hours – More Gains Ahead?

Fantom (FTM) bounces back with a 5% rally in over 24 hours after it hit a massive low yesterday. On-chain metrics hint at a bull run. Still, buyers are still advised to be extra cautious. FTM rallied 5% in the past 24 hours Fantom’s on-chain metrics hinting a bullish movement FTM experiencing strong selling pressure FTM bulls are still trying to push through the resistance.

2022-9-28 15:30


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Cardano Community Claps Back at Critic Who Labeled Charles Hoskinson A “Cancer” For ADA

The Cardano (ADA) community has rallied to defend the network’s founder, Charles Hoskinson, following an online dispute ignited by harsh criticisms. The controversy began on Saturday when a user on X (Formerly Twitter), operating under the pseudonym “Dclay,” posted, “Is Charles Hoskinson really the cancer of Cardano? Would this chain be a lot better without […]

Is Cardano's Hoskinson hurting ADA's value? Poll suggests...

Cardano is facing skepticism, with ADA struggling post-2022's bear market Hoskinson's memecoin endorsement sparked controversy and raised serious accountability concerns Cardano [ADA] has beThe post Is Cardano's Hoskinson hurting ADA's value? Poll suggests... appeared first on AMBCrypto.

Cardano Summit 2024 fuels optimism, but ADA price remains sluggish

Cardano (ADA) finds itself at a challenging crossroads as it faces continued price struggles amid high expectations and optimism following the recently concluded Cardano Summit 2024 in Dubai. Despite the summit’s major industry announcements and new strategic partnerships, ADA’s price remains under pressure, mirroring the broader cryptocurrency market’s volatility and drawing investor concerns over its […]

Cardano's NVT ratio hits 5-month high: Is ADA overvalued?

Cardano NVT ratio surged to June levels, signaling further downside. ADA has declined by 8% over the past month. Cardano [ADA] experienced a sustained decline over the past month. However, The post Cardano's NVT ratio hits 5-month high: Is ADA overvalued? appeared first on AMBCrypto.

Cardano set for November rally? ADA tracks 2020 pattern and that means...

Cardano’s fractal pattern points to a potential 2,288% gain by 2025, starting with a breakout in November. Hoskinson envisions Cardano powering a nation-state by 2030, with millions of users The post Cardano set for November rally? ADA tracks 2020 pattern and that means... appeared first on AMBCrypto.

Cardano to act as Bitcoin's extension? New integration stirs mixed reactions

Cardano will be an extension of the Bitcoin network after the latest integration.  The community showed mixed reactions as market sentiment around ADA dropped lower.  The recent integratioThe post Cardano to act as Bitcoin's extension? New integration stirs mixed reactions appeared first on AMBCrypto.