[ccpw id="5"]

[ccpw id="5"]

HomeCryptoCardano is set for more gains this week, but buyers should wait...

Cardano is set for more gains this week, but buyers should wait for this retest money moguls


Disclaimer: The information presented does not constitute financial, investment, trading or any other advice and is solely the opinion of the author.

  • Cardano bias remains on the lower time frame.
  • Futures markets avoided participants and showed some selling pressure.

on Sunday, Bitcoin A pump to $25.1k saw an immediate rejection in the $24.2k area. Whether or not to trust Sunday’s pump in crypto is debatable, but this pump did cause early leveraged buyers some pain.

Data Coin Analytics The retracement of the move to $25.1 thousand showed a long selloff worth $11 million.

Reading cardano price prediction 2023-24

Cardano The end of Sunday also saw a 2.4% rise, followed by a 5% drop. Since then, the price has skyrocketed once again. What can shorter time frame traders expect in the coming week?

The search for liquidity was seen in the south late on Sunday

Source: ADA/USDT on TradingView

There was a bullish market structure on the 4 hour chart. On February 14, ADA broke above the resistance level of $0.37 and turned bullish in its structure. Since then, the price has made a series of higher lows. In the last few hours of trading, ADA fell as low as $0.389.

It was still a high low. To change the H4 bias to bearish, a 4-hour session near $0.389 is required. Meanwhile, the $0.414-$0.419 area was an imminent resistance area.

The Awesome Oscillator showed that the bullish momentum was weakening, as evidenced by the red bars forming on its histogram. However, the indicator remained above the zero level. The A/D line also posted higher lows over the past week. This suggested constant buying pressure.

realistic or not, here it is ADA Market Cap in BTC terms

Trading volumes have gradually decreased in recent days. Meanwhile, the ADA bulls knocked on the resistance at $0.42.

Given the bullish structure, an uptrend was likely in the offing. A break of $0.42 and a retest could be a buying opportunity.

Market participants remain neutral over the weekend

Cardano is set for more gains this week, but buyers will have to wait for another test

Fountain: coin analysis

Open interest declined last week as ADA struggled to break above the $0.42 resistance level.

This meant that a substantial part of the participants was waiting for the market to make a decision. More than $200,000 in long positions were not liquidated due to recent volatility. This suggested that the search for liquidity did not catch many buyers.

Unlike the A/D line, the Spot CVD line has been moving lower and lower for the past two weeks, indicating a sell-off.


Please enter your comment!
Please enter your name here


Reliance Consumer Products Limited launches home and personal care range and expands portfolio money moguls

reflexesRCPL launches home and personal care rangeFMCG Portfolio Expansion AnnouncementThese products will now be available on all channelsMumbai. Reliance Consumer Products Limited (RCPL), a wholly...

SushiSwap (SUSHI) Assessment Renews Heat Amid Potential Tribulation money moguls

Despite the possible investigation, deposits on SushiSwap continue to grow. The community supports the trust fundraiser as the sentiment surrounding the project reflects optimism. Between March...

New threat to SBI-HDFC Bank customers! Scammers send such a link, they are forced to click, and money is lost from the account. ...

New Delhi. Cases of cyber fraud are increasing day by day in the country, in such a situation it is very important that you be...

Most Popular