This is Why Cardano (ADA) Price May Fail to See $0.50 Soon  

2024-5-17 17:00

Due to the bearish market conditions, Cardano’s (ADA) price rise may not fulfill its objective of reclaiming $0.50 as a support floor.

Investors still have a shot at changing the bearish outcome should they exhibit optimism.

Cardano May Face Increasing Bearishness

Like the rest of the cryptocurrencies, Cardano’s price rose, but unlike other altcoins, ADA’s rally may be stopped before it can reclaim its key price level. The reason behind this is the saturation of bullishness in the case of Cardano.

According to the Relative Strength Index (RSI), ADA is overbought. The RSI is a momentum oscillator that measures the speed and change of price movements. It ranges from 0 to 100 and is typically used to identify overbought or oversold conditions in a market.

Given Cardano’s price is above the threshold, it could potentially face the brunt of being overbought. Historically, this instance has been followed by corrections during which ADA notes considerable declines. This could be the outcome for the altcoin this time around as well.

Cardano RSI. Source: TradingView

ADA holders, however, do have the power to change this outcome. However, they would need to exhibit more optimism. Due to the recent decline, Cardano investors barely participated in the network.

This is evident in the total number of transactions conducted on the network in the last couple of weeks. Lesser participation leads to lower liquidity, keeping the price sideways bound or in a decline.

Read More: Who Is Charles Hoskinson, the Founder of Cardano?

Cardano Active Addresses. Source: Santiment

Thus, as investors’ behavior changes, the ADA price’s direction will change, too.

ADA Price Prediction: A Dip Ahead

Cardano’s price, trading at $0.48 when writing, exceeded the resistance at $0.46. The latter has been consolidating the altcoin, and a breakout from it increased hopes of a rise to $0.50.

$0.50 is a crucial psychological support floor, but ADA may not be able to reach this level. The aforementioned conditions present a bearish outlook, suggesting a potential drawdown to $0.46 or below, sending ADA into consolidation again.

Read More: Cardano (ADA) Price Prediction 2024/2025/2030

Cardano Price Analysis. Source: TradingView

However, if ADA holders act bullish, the price rise could continue or bounce off the support at $0.46. This could invalidate the bearish thesis, extending the gains.

The post This is Why Cardano (ADA) Price May Fail to See $0.50 Soon   appeared first on BeInCrypto.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

ETH/LINK Price Action Candlestick Set (LINKETHPA) на Currencies.ru

$ 467.1 (+0.48%)
Объем 24H $0
Изменеия 24h: 0.85 %, 7d: 17.53 %
Cегодня L: $453.49 - H: $467.1
Капитализация $0 Rank 3676
Доступно / Всего 0 LINKETHPA

price may soon cardano see ada fail

Источник: beincrypto.com

price may → Результатов: 126


Chainlink (LINK) Price Down Today As Bears Take Control – Here’s Why

Chainlink has dropped slightly in the market today as bears seized control of its price. LINK’s current price depicts a loss of 87. 7% from its all-time high of $52. 88 on May 10, 2021. Related Reading: Decentraland (MANA) Leads Crypto Market Gains, Here’s Why The asset has been fluctuating between the $6 and $7 price levels since the beginning of May and is currently at the $6 price level.

2023-5-20 14:14


Analyst: Ethereum Now Entering a Macro Correction as Selling Pressure Mounts

Ethereum has been hit hard by the latest selloff, with the cryptocurrency’s price plunging to its critical $400 support before posting a slight rebound This price action has done little to offer insight into ETH’s mid-term trend, but it did strike a blow to the bull case that has been mounting over the past few weeks Analysts are now conflicted as to where it may trend in the near-term, which may depend largely on its […]

2020-9-4 23:00


Фото:

Crypto Price Analysis May 6: BTC, ETH, XRP, BCH, BSV, LTC, BNB, EOS, XTZ, LINK

On May 6, the Bitcoin price finally broke out from the resistance line it had been following over the past week. This could be a sign that the BTC price is ready to move towards new highs. In this article, we will take a look at the Bitcoin price movement, along with nine other cryptocurrencies, […] The post Crypto Price Analysis May 6: BTC, ETH, XRP, BCH, BSV, LTC, BNB, EOS, XTZ, LINK appeared first on BeInCrypto.

2020-5-7 01:37


Фото:

Crypto Price Analysis May 5: BTC, ETH, XRP, BCH, BSV, LTC, BNB, EOS, XTZ, LINK

The Bitcoin price has been decreasing inside a bearish pattern since April 30. At the time of writing, the price was trading near $8,900. With the third BTC halving projected to occur on May 12, Google search interest for the event is at an all-time high, a value more than four times the previous all-time […] The post Crypto Price Analysis May 5: BTC, ETH, XRP, BCH, BSV, LTC, BNB, EOS, XTZ, LINK appeared first on BeInCrypto.

2020-5-6 19:15


BITCOIN SV Price Prediction Today: Daily (BSV) Value Forecast – May 16

The short and medium-term outlook is in the uptrend. Traders may consider buying at pullback area with bullish reversal candlesticks formation as entry confirmation. BSV/USD Medium-term Trend: Bullish Supply zones: $90, $100, $120 Demand zones: $50, $40, $30 BSVUSD continues in a bullish trend in its medium-term outlook. The bulls sustained the upward momentum as […]

2019-5-16 08:33


Фото:

Ethereum technical analysis against Bitcoin and USD suggest a strong uptrend may come next week

As the market continues to climb on its rally from December lows, several of the high cap coins have been noticeably quiet—including Ethereum. However, Bitcoin’s recent price surge saw its price increase nearly 50 percent in two days, giving Ethereum and other high-caps the boost they needed to start their climb upwards.

2019-5-16 01:36


Dogecoin Price Prediction 2019: Much Wow Is Heading North (May 16th Update)

Mid May Update: Technicals Dogecoin still has some of its bite strength left! Let’s look at what DOGE has been up to in the recent couple of days: 4H DOGEBTC The 4h timeframe portrays a nascent bullish reversal – DOGE clearly bottomed out at 34 sats after forming a quadruple bottom before shifting gears and […] The post Dogecoin Price Prediction 2019: Much Wow Is Heading North (May 16th Update) appeared first on CaptainAltcoin.

2019-5-16 01:32


Chainlink Mainnet Plans to Launch May 30th On Ethereum Network as LINK Price Skys to $0.84

Chainlink CEO Sergey Nazarov has announced that they are planning to launch the Chainlink Mainnet on Ethereum on May 30th. The announcement took place at Consensus 2019, in New York City. Thrilled to announce that Chainlink Mainnet on Ethereum is going live on May 30th! #chainlink #smartcontract #Consensus2019 #mainnet pic.

2019-5-15 17:02


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Cardano (ADA) Price Could Surge 19% If This Happens

Cardano (ADA) faces a pivotal moment, with trend momentum rising but strong resistance and weak support suggesting potential volatility. The post Cardano (ADA) Price Could Surge 19% If This Happens appeared first on BeInCrypto.

Cardano (ADA) Price Consolidates Amid Steady Whale Activity

Cardano's (ADA) large transactions and whale activity have stabilized, signaling a potential consolidation phase. Traders are awaiting clearer market trends. The post Cardano (ADA) Price Consolidates Amid Steady Whale Activity appeared first on BeInCrypto.