Cardano

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Divergence

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 <h2 id="ada-price-bleeding-continues">ADA Price Bleeding Continues</h2> 
 <p><a rel="noopener noreferrer nofollow" title="ADA" href="https://thebittimes.com/tag/ada.html">ADA</a> is down 0.1% to $0.2895 with $112 million in volume coming in, supported by $10 billion in market capitalization.</p>  
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 <p>A depressed market structure became the order of the day following the climb to $0.37 in July after the court ruled that&nbsp;programmatic sales of XRP are not securities.</p> 
 <p>Recall the Securities and Exchange Commission (SEC) alleged in June that&nbsp;<a rel="noopener noreferrer nofollow" title="ADA" href="https://thebittimes.com/tag/ada.html">ADA</a> along with 63 other cryptos&nbsp;like Polygon (MATIC), and Solana (SOL) are securities.</p> 
 <p>Therefore, with the court’s ruling favoring XRP, Cardano witnessed a <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> pump from lows around $0.25 to highs of $037 as investors sought exposure to other tokens the SEC had deemed to be operating illegally as securities.</p>  
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 <p>Nevertheless, the dilapidated crypto market structure in addition to dampening the uptrend has seen&nbsp;Cardano&nbsp;trim most of the gains to trade around $0.2895 on Tuesday.</p> 
 <p>Now, holding below all three moving averages, including the 200-day Exponential Moving Average (EMA) (purple) at $0.343, the 100-day EMA (blue) at $0.316 and the 50-day EMA (red) at $303, implies that declines are likely to carry on.</p> 
 <figure id="attachment_156625" aria-describedby="caption-attachment-156625" style="width: 100%" class="wp-caption aligncenter"> 
  <img decoding="async" class="size-full wp-image-156625" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201148%20635'%3E%3C/svg%3E" alt="ADA price doldrums below $0.3" width="1148" height="635" data-lazy-src="https://cdn.coingape.com/wp-content/uploads/2023/08/15135953/ADAUSD_2023-08-15_11-00-22.png"> 
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    ADA/USD daily chart | Tradingview 
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 <p>A sell signal from the Moving Average Convergence Divergence (MACD) indicator reveals a strong bearish grip. As the momentum indicator drops further below the mean line, a sell-off brews, leaving ADA vulnerable to losses eyeing support at $0.25.</p> 
 <p>Trading the MACD requires traders to look out for the MACD line in blue to flip below the signal line in red to validate the weakening market structure.</p>  
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 <p>Breaking below the upper ascending trendline on the chart pushed <a rel="noopener noreferrer nofollow" title="ADA" href="https://thebittimes.com/tag/ada.html">ADA</a> <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> over the edge but the lower trendline came in handy. In this case, holding Cardano above the lower trendline is paramount to a trend reversal. At the same time, a break below it may mean losses to $0.25 and possibly extending to $0.20.</p> 
 <h2 id="cardano-to-take-off-after-accumulation">Cardano To Take Off After Accumulation</h2> 
 <p>A bullish outlook cannot be ruled out just yet, especially with the possibility of a knee-jerk rebound above the short-term resistance at $0.3.</p> 
 <p>A sustained break and hold above the 50-day EMA would imply that sellers are losing grip and bulls are getting ready to take control of the narrative for gains above $0.45 – the July hurdle.</p> 
 <p>According to crypto analyst and trader Ali, Cardano appears to be mimicking its oscillations between 2018 and 2020 “between $0.10 and $0.028 for 665 days.”</p> 
 <p>Following this consolidation that allowed for accumulation among investors, <a rel="noopener noreferrer nofollow" title="ADA" href="https://thebittimes.com/tag/ada.html">ADA</a> took off to a “2,985% bull run.”</p> 
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
  <p lang="en" dir="ltr">In this article it’s says:</p> 
  <p>“In short, most XRP transactions might still be securities transactions.”</p> 
  <p>This is NOT true and constitutes total FUD. Even if Judge Torres agrees to certify the interlocutory appeal and stay the case (HUGE ASSUMPTIONS, especially the stay), it would… https://t.co/o7VLWbszUo pic.twitter.com/5T0H57UC8A</p> 
  <p>— John E Deaton (@JohnEDeaton1) August 11, 2023</p> 
 </blockquote> 
 <p></p> 
 <p>Ali argues that crypto markets need patience in times such as this and “those willing to wait will be rewarded. If history is to repeat itself&nbsp;Cardano is staring at a massive breakout&nbsp;in early 2024.</p> 
 <h3 id="related-articles">Related Articles</h3> 
 <ul> 
  <li>Celsius Networks’ Creditors Refuse $2 Billion Repayment Plan, Here’s why</li> 
  <li>XRP Sideways Market Structure Extends – Can Shorts Turn Profitable?</li> 
  <li>How To Time Bitcoin Leg Ups With Pumps Coming Where They’re Least Expected</li> 
 </ul> 
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ADA price Oscillates In Range As Breakout Brews

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