1. BITBILIHome
  2. Article

Cardano price analysis: ADA continues bearish run below $0.40 demand zone

• 132 views

TL;DR Breakdown

. Cardano price remains persistently bearish
. Price struggles to test first resistance at $0.40
. ADA RSI settled in oversold zone

Cardano price analysis shows its bearish run extending in a sideways trend, as price dropped as low as $0.35 over the past 24 hours. ADA price has remained in downtrend since May 6, when it last hit the $0.40 resistance point. Since then, in a series of downward and horizontal movement, price has remained well below the first resistance point. The ‘Ethereum killer’ continues its sideways movement on the daily chart, with trading volume dropping 9 percent over the past 24 hours, and market capitalisation dipping to $16,243,863,162.

The larger cryptocurrency market showed downtrending reds across the board, with Bitcoin dropping below the $27,000 mark with a minor decrement, and Ethereum falling back to $1,800. Among leading Altcoins, Ripple lost 2 percent in moving down to $0.45, whereas Dogecoin and Polkadot also dropped 2 percent each, to move down to $0.07, and $5.30, respectively.

Screenshot 2023 05 21 at 8.05.23 PM.40 demand zone" src="https://en.bitbili.com/wp-content/uploads/2023/05/frc-3d463303820f57e604904a7a65122dbc.jpg">Cardano price analysis: ADA continues bearish run below <img decoding=.40 demand zone" src="https://en.bitbili.com/wp-content/themes/justnews/themer/assets/images/lazy.png" data-original="https://en.bitbili.com/wp-content/uploads/2023/05/frc-3d463303820f57e604904a7a65122dbc.jpg">
Cardano price analysis: Cryptocurrency heat map. Source: Coin360

Cardano price analysis: RSI remains well-settled in oversold zone on daily chart

On the 24-hour candlestick chart for Cardano price analysis, price can be seen trending horizontally for most of the month of May, incurring little in price and buyer interest. The current trend looks set to remain bearish by the looks of the 24-hour chart, with price currently trending below its 9 and 21-day moving averages, as well as the important 50-day exponential moving average (EMA) at $0.36.

ADAUSDT 2023 05 21 20 08 13.40 demand zone" src="https://en.bitbili.com/wp-content/uploads/2023/05/frc-a3cdd537a3574c5276426b7b593f364a.jpg">Cardano price analysis: ADA continues bearish run below <img decoding=.40 demand zone" src="https://en.bitbili.com/wp-content/themes/justnews/themer/assets/images/lazy.png" data-original="https://en.bitbili.com/wp-content/uploads/2023/05/frc-a3cdd537a3574c5276426b7b593f364a.jpg">
Cardano price analysis: 24-hour chart. Source: Trading View

The 24-hour relative strength index (RSI) for Cardano price analysis also continually shows a dismal reading, and can be seen heading further downwards into the oversold region after reaching the 40 mark. Meanwhile, the moving average convergence divergence (MACD) curve offers some support in terms of technical indicators, with the trend line attempting a bullish divergence to move above the signal line.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decision.

文章来源于互联网:Cardano price analysis: ADA continues bearish run below $0.40 demand zone

Disclaimers:

1. You are solely responsible for your investment decisions and this info is not liable for any losses you may incur.

2. The copyright of this article belongs to the writer, it represents the writer's opinions only, not represents the site's ones. Not financial advice.

Previous 2023年5月23日 04:10
Next 2023年5月23日 05:38

Related articles

  • Ukraine joins G7 in its fight against Russia and China

    TL;DR Breakdown In a significant geopolitical development, Ukraine’s President, Volodymyr Zelenskiy, has joined forces with the G7 nations in their stand against Russia and China. Zelenskiy held critical talks with India’s Prime Minister Narendra Modi at the G7 summit in Hiroshima, discussing Ukraine’s requirements and inviting India to participate in Ukraine’s peace initiatives. Despite India’s economic ties with Russia, PM Modi pledged continued humanitarian support for Ukraine and expressed his backing for diplomatic solutions and peace. In an unprecedented move, Ukraine has partnered with the Group of Seven (G7) in its stand against Russia and China, marking a significant geopolitical shift. Spearheading this effort, Ukraine’s President Volodymyr Zelenskiy took center stage in Hiroshima, Japan, at the G7 summit this past weekend, intensifying efforts to rally international support against the ongoing conflict with Russia. Ukraine strengthens global ties During the three-day G7 summit, Zelenskiy held crucial discussions with India’s Prime Minister, Narendra Modi, and other leaders from non-aligned nations. These discussions, coupled with the backing of the G7 nations, serve to amplify Ukraine’s message on a global scale. Donning his signature…

    Article 2023年5月21日

  • Jerome Powell hints at higher rates, cautious move ahead

    Description It’s no secret that the future of America’s economic stability rests on the careful balancing act orchestrated by the Federal Reserve. And leading this charge is none other than Jerome Powell, the Fed Chair who’s become somewhat of an economic oracle in recent times. Powell’s latest announcement hints at an upward trajectory for interest rates, … Read more It’s no secret that the future of America’s economic stability rests on the careful balancing act orchestrated by the Federal Reserve. And leading this charge is none other than Jerome Powell, the Fed Chair who’s become somewhat of an economic oracle in recent times. Powell’s latest announcement hints at an upward trajectory for interest rates, and yet, it’s marinated with a cautious optimism, making us wonder: What’s really going on? The Good, The Bad, and The Inflation Here’s the thing: inflation remains a stubborn stain on the U.S. economic fabric. Despite the Fed’s aggressive 5.25 percentage point increase since March 2022, the beast of inflation hasn’t been fully tamed. Yes, it’s receded from an alarming 7% to a still-concerning 3.3%, but…

    Article 2023年8月26日

  • Did Apple just make a move into the Metaverse?

    TL;DR Breakdown Apple has unveiled its Vision Pro headset, marking its entry into the metaverse and the augmented/virtual reality (AR/VR) sectors. The Vision Pro uses a new spatial computing platform, visionOS, to create interactive digital spaces. While the tech industry welcomes Apple’s entry, concerns about the company’s restrictive ecosystem and the headset’s high price persist. With a history of creating paradigm shifts in technology, Apple seems to be yet again at the forefront of a potentially game-changing move. This time, it’s not a smartphone or a watch, but the newly unveiled Vision Pro headset, a mixed reality device that could redefine how we interact with digital spaces. In essence, the metaverse may have just welcomed a new heavyweight contender. Apple’s Vision Pro – An industry game-changer While the device launched at Apple’s annual WWDC event, the buzz around its implications for the burgeoning augmented and virtual reality sectors is palpable. Many industry leaders hail Apple’s entry as a critical milestone, a momentous occasion that will invigorate confidence in VR and AR markets. HTC’s CEO Cher Wang, whose company has a…

    Article 2023年6月11日

  • Bitbuy partners with Localcoin ATM to push crypto adoption in Canada

    TL;DR Breakdown Bitbuy has announced a strategic partnership with Localcoin ATM to push crypto adoption in Canada. Localcoin eyes the expansion as the road to further crypto adoption. Description Canadian fintech corporation WonderFi, with backing from billionaire Kevin O’Leary, has unveiled a strategic partnership between Bitbuy and cryptocurrency ATM provider Localcoin ATM. This significant collaboration, announced on September 18, aims to strengthen Localcoin’s cryptocurrency ATM network across Canada by integrating Bitbuy’s exchange platform, known for its deep liquidity. Bitbuy will leverage Localcoin’s ATM to … Read more Canadian fintech corporation WonderFi, with backing from billionaire Kevin O’Leary, has unveiled a strategic partnership between Bitbuy and cryptocurrency ATM provider Localcoin ATM. This significant collaboration, announced on September 18, aims to strengthen Localcoin’s cryptocurrency ATM network across Canada by integrating Bitbuy’s exchange platform, known for its deep liquidity. Bitbuy will leverage Localcoin’s ATM to provide its services Bitbuy holds the distinction of being the first cryptocurrency exchange in Canada to secure full regulatory approval, making it a key player in the country’s crypto landscape. In January 2023, WonderFi acquired Bitbuy’s parent company,…

    Article 2023年9月20日

  • BRICS summit: Key insights you need to know

    TL;DR Breakdown BRICS added six countries, reshaping global economic dynamics. The expansion may influence a shift from US dollar transactions in oil sales. Xi Jinping missed a key speech, while Putin attended virtually. Description A critical global spotlight was set on the BRICS 2023 Summit. The key players in the bloc made decisions that may shake the very core of the geopolitical arena. And if you weren’t paying attention, you might just miss out on understanding the future landscape of our global order. From unexpected memberships to suspicious absences, … Read more A critical global spotlight was set on the BRICS 2023 Summit. The key players in the bloc made decisions that may shake the very core of the geopolitical arena. And if you weren’t paying attention, you might just miss out on understanding the future landscape of our global order. From unexpected memberships to suspicious absences, here’s the lowdown. Shaking up the global order with new additions Expanding a bloc isn’t just about adding names to a list—it’s a calculated move, shifting power dynamics and potentially sending shockwaves across…

    Article 2023年8月28日
TOP