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Cardano

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   Oct 11, 2023 at 09:17 // Price
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   <div class="avatar" style="background-image:url(/upload/resize_cache/iblock/42a/60_60_1/42aa5ec847dba7f5a2bce5378ae70614.png)"></div> <span>Author<br>Coin Idol </span>
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 </div> <img class="page-news__main-pic lazy-load-detail-picture" src="https://coinidol.comdata:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAEAAAABCAQAAAC1HAwCAAAAC0lEQVR42mNkYAAAAAYAAjCB0C8AAAAASUVORK5CYII=" data-lazy-src="https://coinidol.com/upload/resize_cache/iblock/eee/900_900_1/95ddi2tw70nz68z025gqzwlxhflf5z6n.jpg" width="900" height="563" alt="The bears are aiming to break the lower price range to the downside" title="">
 <p><strong>The latest price <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> by Coinidol.com report, Cardano (ADA) price is falling below the moving average lines. </strong></p>
 <h2 style="text-align: justify;" id="cardano-price-long-term-forecasts-bearish">Cardano price long-term forecasts: bearish</h2>
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 <p style="text-align: justify;">The deterioration has continued outside the range where the price is. After a strong rejection at the high of $0.265, the ADA price is currently trading around $0.246. The cryptocurrency value moved between $0.24 and $0.27 in the previous price action.</p>
 <p style="text-align: justify;">The bears are aiming to break the lower price range to the downside. However, if the bears manage to break the $0.24 support, ADA will drop much lower to its previous low of $0.235 or $0.236. The altcoin will recover and continue its movement within the trading range if the current downtrend ends above the $0.24 support. The altcoin is currently trading above the $0.246 support.</p>
 <h2 style="text-align: justify;" id="cardano-indicator-analysis">Cardano indicator analysis</h2>
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 <p style="text-align: justify;">The moving average lines are below the price bars, indicating that the cryptocurrency asset is in a bearish trend zone. When the cryptocurrency price is below the moving average lines, ADA tends to decline. However, as the market has entered an oversold zone, the selling pressure decreases.</p>
 <p style="text-align: justify;"><img width="980" alt="ADAUSD_(Daily Chart) – OCT. 11.23.jpg" src="https://cdn.thebittimes.com/images/2023/10/11/011c29aa2ffb7daf626b9e712d124e69.webp" height="548" title="ADAUSD_(Daily Chart) – OCT. 11.23.jpg"><br></p>
 <h3 style="text-align: justify;" id="technical-indicators">Technical indicators</h3>
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 <p style="text-align: justify;"><b>Key resistance zones: $0.30, $0.35, $0.40 </b></p>
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 <p style="text-align: justify;"><b> Key support zones: $0.20, $0.15, $0.10</b></p>
 <h2 style="text-align: justify;" id="what-is-the-next-move-for-cardano">What is the next move for Cardano?</h2>
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 <p style="text-align: justify;">The 4-hour chart of Cardano shows that the price is declining. According to the price indication, ADA will decline but turn around at the 1.272 Fibonacci extension level or $0.244. Based on the price movement, Cardano fell to a low of $0.245 before rebounding. The altcoin is currently trading at $0.248. The cryptocurrency's price is once again range-bound.</p>
 <p style="text-align: justify;"><img width="980" alt="ADAUSD_ (4 Hour Chart) – OCT. 11.23.jpg" src="https://cdn.thebittimes.com/images/2023/10/11/bb8549aa4d3ac9b160a8fe0435dc7f68.webp" height="581" title="ADAUSD_ (4 Hour Chart) – OCT. 11.23.jpg"><br></p>
 <p style="text-align: justify;">As we reported on&nbsp;October&nbsp;4, the altcoin rose to a high of $0.27 on October 2, but encountered resistance. The market is overbought near the recent high.&nbsp;</p>
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 <p style="text-align: justify;"><i><span style="color: #a0a0a0;"><b>Disclaimer.</b>&nbsp;This <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> and forecast are the personal opinions of the author and are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol.com. Readers should do their research before investing in funds.</span></i></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/cardano-bounces-as-altcoin-stagnates-above-0-245-tbt65961.html">https://thebittimes.com/cardano-bounces-as-altcoin-stagnates-above-0-245-tbt65961.html</a></p>

Cardano Bounces As Altcoin Stagnates Above $0.245

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