• bitcoin
    Bitcoin(BTC)
    $0.00 4.63%24H
  • ethereum
    Ethereum(ETH)
    $0.00 7.65%24H
  • binance-coin
    Binance Coin(BNB)
    $0.00 8.29%24H
  • usd-coin
    USD Coin(USDC)
    $0.00 -0.04%24H
  • cardano
    Cardano(ADA)
    $0.00 5.58%24H
  • chainlink
    Chainlink(LINK)
    $0.00 7.66%24H
  • bitcoin-cash
    Bitcoin Cash(BCH)
    $0.00 5.04%24H
  • stellar
    Stellar(XLM)
    $0.00 4.19%24H
  • vechain
    VeChain(VET)
    $0.00 7.84%24H
  • tezos
    Tezos(XTZ)
    $0.00 5.65%24H
  • eosdac
    eosDAC(EOSDAC)
    $0.00 3.34%24H
Crypto Currency Bazaar 4u
  • INVESTMENTS
    • Crypto General
    • Masternodes
    • Mining Projects
    • NFTS Investments
    • Invest In ICO
    • Exchanges
    • Staking Yeild Farming
  • WORLD
  • USA
  • CANADA
  • JAPAN
  • UK
  • UAE
  • INDIA
  • MORE
    • BRAZIL
    • AUSTRALIA
    • EL SALVADOR
    • CENTRAL AMERCIA
    • SOUTH AMERICA
    • AFRICA
    • EUROPE
    • ASIA
    • OCEANIA
    • ICO
  • Login
  • BLOCKCHAIN
  • BITCOIN
  • ETHEREUM
  • NFTS
  • ALTCOIN
  • MINING
  • VIDEOS
  • LIVERATES
  • SHOP
  • CLASSIFIEDS
  • ADVERTISE
  • SUBMIT PRESS RELEASE
HealthNews
No Result
View All Result
Home INDIA

Cardano (ADA) Price Sinks Below $1; Next Key Levels To Position Your Trades

CB4U by CB4U
February 22, 2022
in INDIA
0
Cardano Price Analysis: ADA Price Chart Shows Increasing Selling Pressure, Time To Sell?
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

On February 20th, the Cardano (ADA) price gave a decisive breakout from the yearly support of $1. Until this breakdown, this crucial support didn’t allow a single daily candle closing in the past year. Should we expect another freefall in ADA, or do buyers have something up their sleeves?

Key technical points: 

  • The daily-RSI slope approaches the oversold territory.
  •  Higher price rejection in retest candle highlights bears power.
  • The intraday trading volume in the ADA coin is $1.2 Billion, indicating a 10% hike

Source- Tradingview

The Cardano (ADA) price has traded above $1 over the past year. This crucial support was resilient even during the crypto bloodbath of June-July 2021 followed by the August rally.

Back to the present, the ADA buyers failed to overcome the $1.2 resistance during the recent recovery rally, resulting in an immediate bearish reversal. The sustained selling pulled the coin price below the $1 support, indicating a 27% loss in the last two weeks.

Following a bearish sequence, the downsloping crucial EMAs(20, 50, 100, and 200) suggest the bears are dominating the field. Moreover, the 50 and 100 EMA acts as dynamic resistance that traders are using to sell on rallies.

Moreover, the Relative strength index(33) slope sliding lower accentuates the aggressive selling in the market.

ADA Chart Hints Next Support Lies Down 12% ($0.82)

TradingView ChartSource- Tradingview

After yesterday’s breakdown, the ADA price reverted to retest its new resistance. The coin chart displays a long higher price rejection in the daily candle, indicating the support has flipped to support.

If traders maintain the price below the $1 mark, the selling pressure would intensify and plunge the altcoin to $0.82, followed by $0.7.

Resistance levels- $1, and $1.2

Support levels-$0.8 and $0.7

Disclaimer

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

About Author

From the past 5 years I working in Journalism. I follow the Blockchain & Cryptocurrency from last 3 years. I have written on a variety of different topics including fashion, beauty, entertainment, and finance. raech out to me at brian (at) coingape.com

Advertisement Banner
Previous Post

⚠️❗️Una Advertencia Para Todos Los Inversores En Crypto ❗️⚠️

Next Post

OpenSea Faces $1M Lawsuit Over Hacked Bored Ape

CB4U

CB4U

Next Post
OpenSea Faces $1M Lawsuit Over Hacked Bored Ape

OpenSea Faces $1M Lawsuit Over Hacked Bored Ape

Discussion about this post

RECOMMENDED

Build an Ethereum Mining Rig [2022 Update]

Build an Ethereum Mining Rig [2022 Update]

8 months ago
‘The metaverse will empower human beings’, declares Qatar Airways

‘The metaverse will empower human beings’, declares Qatar Airways

2 months ago

DON'T MISS

Bitcoin Miner Stronghold Returns 26,200 Mining Rigs to NYDIG to Clear $67M Debt

Bitcoin Miner Stronghold Returns 26,200 Mining Rigs to NYDIG to Clear $67M Debt

August 18, 2022
eToro set to buy US startup Gatsby for $50M

eToro set to buy US startup Gatsby for $50M

August 18, 2022
‘There’s a lot less land to go around’ — why White Rock established off-the-grid mining in Texas

‘There’s a lot less land to go around’ — why White Rock established off-the-grid mining in Texas

August 18, 2022
ASX Tokenised Asset Trading Inches Closer To Reality

ASX Tokenised Asset Trading Inches Closer To Reality

August 18, 2022
Crypto Currency Bazaar 4u

The Cryptocurrency Bazaar 4U was founded in 2020 for providing the most trusted information for the Crypto enthusiasts covering a broad range of news about blockchain technology, cryptocurrency assets, emerging fintech trends in the decentralized space, and other related wide array of information surrounding this emerging technology.Our team provides the most up-to-date and accurate news from different sources in this space comprising of unbiased news, in-depth analytics, detailed cryptocurrency price charts, and insightful opinion pieces is the basis of our editorial content.

POPULAR POSTS

Bitcoin Miner Stronghold Returns 26,200 Mining Rigs to NYDIG to Clear $67M Debt

Bitcoin Miner Stronghold Returns 26,200 Mining Rigs to NYDIG to Clear $67M Debt

August 18, 2022
eToro set to buy US startup Gatsby for $50M

eToro set to buy US startup Gatsby for $50M

August 18, 2022
‘There’s a lot less land to go around’ — why White Rock established off-the-grid mining in Texas

‘There’s a lot less land to go around’ — why White Rock established off-the-grid mining in Texas

August 18, 2022

Categories

  • AFRICA
  • ALTCOIN
  • ASIA
  • AUSTRALIA
  • BITCOIN
  • BLOCKCHAIN
  • BRAZIL
  • CANADA
  • CENTRAL AMERCIA
  • CRYPTO GENERAL
  • EL SALVADOR
  • ETHEREUM
  • EUROPE
  • EXCHANGES
  • ICO
  • INDIA
  • INVERST IN ICO
  • INVESTMENTS
  • JAPAN
  • MASTERNODES
  • MINING
  • MINING PROJECTS
  • NFTS
  • NFTS INVESTMENTS
  • OCEANIA
  • SINGAPORE
  • SOUTH AMERICA
  • STAKING & YEILD FARMING
  • UAE
  • UK
  • Uncategorized
  • USA
  • VIDEOS
  • WORLD
  • CONTACT US
  • DISCLAIMER
  • PRIVACY POLICY
  • ABOUT US
  • CLASSIFIED
  • ADVERTISE
  • SUBMIT PRESS RELEASE

© cryptocurrencybazaar4u.io

No Result
View All Result
  • BLOCKCHAIN
  • BITCOIN
  • ETHEREUM
  • NFTS
  • ALTCOIN
  • MINING
  • VIDEOS
  • LIVERATES
  • SHOP
  • CLASSIFIEDS
  • ADVERTISE
  • SUBMIT PRESS RELEASE

© cryptocurrencybazaar4u.io

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
  • bitcoin
    Bitcoin(BTC)
    $0.00 4.63%24H
  • ethereum
    Ethereum(ETH)
    $0.00 7.65%24H
  • binance-coin
    Binance Coin(BNB)
    $0.00 8.29%24H
  • usd-coin
    USD Coin(USDC)
    $0.00 -0.04%24H
  • cardano
    Cardano(ADA)
    $0.00 5.58%24H
  • chainlink
    Chainlink(LINK)
    $0.00 7.66%24H
  • bitcoin-cash
    Bitcoin Cash(BCH)
    $0.00 5.04%24H
  • stellar
    Stellar(XLM)
    $0.00 4.19%24H
  • vechain
    VeChain(VET)
    $0.00 7.84%24H
  • tezos
    Tezos(XTZ)
    $0.00 5.65%24H
  • eosdac
    eosDAC(EOSDAC)
    $0.00 3.34%24H