Cardano

2024

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   Jan 24, 2024 at 09:00 // 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/c56/900_900_1/qsv7mic0fx582equmml6pg1id3z7vcuc.jpg" width="900" height="563" alt="The price of Cardano has remained stable" title="">
 <p><strong>The price of Cardano (ADA) has fallen further below the moving average lines.</strong></p>
 <h2 id="cardano-price-long-term-forecast-bearish">Cardano price long term forecast: bearish</h2>
 <p style="text-align: justify;">The price of the cryptocurrency has fallen below $0.48, the level reached on January 3. The altcoin fell further to a low of $0.44 before recovering. Following the recovery, Cardano is currently trading at $0.47. If the current support holds, the price of the altcoin will have to move between $0.44 and $0.50. The market will drop to a low of $0.38 if the selling pressure continues and breaks the $0.44 support level. Cardano is currently valued at $0.47, but the price of the cryptocurrency has remained stable.</p>
 <h2 style="text-align: justify;" id="cardano-indicator-analysis-br">Cardano indicator analysis<br></h2>
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 <p style="text-align: justify;">The cryptocurrency's price bars are below the moving average lines while holding above the $0.46 price level. Cardano has a bearish crossover, with the 21-day SMA falling below the 50-day SMA. At the same time, the moving average lines are moving south, indicating the current downtrend.</p>
 <p style="text-align: justify;"><img width="1024" alt="ADAUSD_(Daily Chart) – Jan 24.24.jpg" src="https://cdn.thebittimes.com/images/2024/01/24/d5ecfe40638889d898646807132ef405.webp" height="491" title="ADAUSD_(Daily Chart) – Jan 24.24.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: $0.50, $0.55, $0.60 </b></p>
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 <p style="text-align: justify;"><b> Key support zones: $0.30, $0.25, $0.20</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;">Cardano's price is oscillating above the $0.46 support after its initial drop to $0.44. The altcoin will rise if the current support level of $0.46 holds. The altcoin will rally if the buyers sustain the price above the moving average lines or the resistance level of $0.50. Additionally, the presence of doji candlesticks has slowed down the price movement.</p>
 <p style="text-align: justify;"><img width="1024" alt="ADAUSD_(4-Hour Chart) – Jan 24.24.jpg" src="https://cdn.thebittimes.com/images/2024/01/24/ebb0d43fd758963c302e1e9a4684b479.webp" height="491" title="ADAUSD_(4-Hour Chart) – Jan 24.24.jpg"><br></p>
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 <p style="text-align: justify;"><i><span style="color: #a0a0a0;">Disclaimer.&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-pauses-above-0-46-and-approaches-bearish-exhaustion-tbt77570.html">https://thebittimes.com/cardano-pauses-above-0-46-and-approaches-bearish-exhaustion-tbt77570.html</a></p>

Cardano Pauses Above $0.46 And Approaches Bearish Exhaustion

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TheBitTimes

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