Cardano

<figure>
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
<a href="https://u.today/cardano-ada-forms-golden-cross-details" rel="noopener noreferrer nofollow">Cardano (ADA)</a>, the eighth largest cryptocurrency by market capitalization, is giving mixed signals across multiple timeframes, including the four-hour and weekly charts.
According to <a href="https://twitter.com/ali_charts/status/1729187783028219939" rel="noopener noreferrer nofollow">Ali</a>, the TD Sequential presents a buy signal on the four-hour chart, indicating that another rebound might be on the way.
<blockquote>
 <a href="https://twitter.com/hashtag/Cardano?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Cardano</a> | Look how the 100-EMA on the 4-hour chart has acted as a rebound zone for <a href="https://twitter.com/search?q=%24ADA&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ADA</a> while the $0.396 level acts as a stiff resistance. The TD Sequential now presents a buy signal within this time frame around the 100-EMA, anticipating another rebound. However, you must pay… <a href="https://t.co/bi4Lzg4rUr" rel="noopener noreferrer nofollow">pic.twitter.com/bi4Lzg4rUr</a>— Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1729187783028219939?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">November 27, 2023</a>
</blockquote>
Meanwhile, on the ADA weekly chart, the same TD sequential indicator showed a sell signal. In this case, losing the $0.37 level as support could cause a drop to $0.34 or $0.33. ADA, on the other hand, must close over $0.40 to advance toward $0.46.
Cardano was seeing a drop in value at the time of writing, mirroring wider crypto market declines. Cardano is currently trading at $0.3735, down 2.86%.
As bulls stay in limbo awaiting the next major move, the next price direction remains crucial. To confirm the direction of the ADA trend, Ali urges ADA traders to pay attention to the four-hour candlestick just above the $0.396 resistance or below the 100-EMA near $0.35 to confirm the direction of the ADA trend.
<h2 id="ada-sits-in-demand-zone">ADA sits in demand zone</h2>
<a href="https://u.today/cardano-founder-praises-ada-research-based-approach-details" rel="noopener noreferrer nofollow">Cardano</a> was unable to break through the $0.40 barrier, which could have enticed short-term traders to take winnings.
Cardano is currently trading in a major demand zone between $0.37 and $0.38, with 166,470 wallets acquiring 4.88 billion ADA. According to Ali, staying above this zone might open the way for ADA to set new yearly highs.
If the current falls continue, ADA may fall to $0.37, the lower end of the demand zone, which might attract buyers. If the price bounces off this level with force, the bulls might next make one more attempt to surpass the $0.40 barrier. If they are successful, ADA might reach $0.46.
On the other hand, if the $0.37 level is lost, ADA might fall to $0.34. Buyers should keep an eye on this level because, if the price goes below it, the daily MA 50 at $0.32 may come into play.

Cardano (ADA) Price Trend Might Be Decided as Bulls Await Breakout

Table of Contents

U_Today

Other articles published on Nov 28, 2023

TerraClassicUSD (USTC): A Phoenix Rising From The Ashes

AI Predicts Gold Price for December 2023 (XAU/USD)

Investors’ Anxiety Mounts as Altcoins Fall From November Highs

Assetclub unveil gamefi project with million token airdrop: merging tradituonal finance with web3

Crypto Billionaire Arthur Hayes Says Binance Fine Highlites the “Arbitrary” Nature of Punishments...

Chinese AI Giant SenseTime Faces Accusations Of Inflated Revenue

Join our free newsletter for daily crypto updates!