Cardano Latest Update – ADA retests the Major Retracement Level, Still in a Long-term Bullish Zone 

  • Cardano ADA long-term projection is in the bullish zone
  • Cardano ADA Price Analysis – ADA declines by 10% in defeat
  • Cardano ADA short-term analysis – Bearish momentum
  • Cardano ADA Price Projection – Bullish signals still left in Cardano

Cardano Price Prediction 2020 – For the past week, the general crypto market has been going through a series of price changes, Cardano’s native token ADA is not an exception. Cardano staking – ADA has so far declined to $0.05623, a major level established by the lower line of the expanding upwards channel created on the daily chart. Cardano Shelley – the expanding channel was established at the beginning of the year and it has persisted to be a useful guide for traders with numerous touches on both the major and bottom lines.

Cardano (ADA) Price Today – ADA / USD

NamePrice
cardano
Cardano
$0.030

Cardano ADA Price Analysis – ADA declines by 10% in defeat

Cardano Price Update – ADA was trading at $0.52639, down by 10.25% on the day. The downward move drove ADA’s market cap down to $1.39227 billion or 0.52% of the overall crypto market cap. Cardano Price Prediction 2020 – At its peak, ADA’s market cap was $23.91700 billion. In the past 24-hour, ADA has traded in a zone of $0.052639 – $0.056648.

Cardano Staking Calculator – the daily 26-period EMA has also served as a key support level for the ADA bulls which supported it for 9 days and are currently trying to close the above-said level again. Cardano staking – obviously the daily uptrend has been lost and the ADA bulls are trying to establish an even pattern by setting $0.05623 as a higher low compared to $0.05515.

Cardano ADA short-term analysis – Bearish momentum

Cardano Price Prediction 2020 – On a short-term basis, ADA is on a downward move as the daily and 4-hour charts are both indicating signs of weakness. Cardano Staking – the 4-hour chart is currently in a downward zone and the ADA bulls have lost both EMAs, though it was able to regain quite significantly from an oversold RSI level. This could lead to another massive retest or a major crash if the ADA bulls are unable to defend this notable level. The hourly chart has also been in a downtrend zone for a while now, and the ADA bulls have failed to establish any higher low.

Bullish signals still left in Cardano ADA

Cardano Staking Calculator – though the short-term projection for ADA is bearish, ADA’s long-term is outstanding with a great weekly chart. ADA was able to break several weekly resistances and it is gradually establishing a higher low after the weekly EMAs have intersected bullishly. The recent dip was a good one for ADA, which saw a 142% increment over 100 days. Cardano Shelley – The ADA bulls will seek out the 12-period EMA for support, which is currently sited at $0.051 on the weekly chart.

Ufuoma Ogono is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.

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