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Cardano price analysis: ADA declines price to $0.458

Cardano price analysis: ADA declines price to $0.458
TL;DR Breakdown
  • Cardano price analysis is bearish today.
  • The strongest resistance is present at $0.512
  • The strongest support is present at $0.457.

Cardano price analysis shows rising signs as the market shows bearish dynamics. The bears have fully regained their control of the Cardano market, which will change the course of the market for the worse, and ADA now expects a complete bearish period to take over in the next few days. However, the bulls will do everything in their power to regain their control.

The market shows the price of Cardano crashed yesterday to the $0.457 mark but spiked soon after to $0.4646. Cardano continues a massive negative movement. However, Cardano prices decreased the next day, on September 15, 2022, again, and reached $0.45. On September 16, 2022, ADA currently trades at $0.458; ADA has been down 2.80% in the last 24 hours with a trading volume of $506,842,513 and a live market cap of $15,699,822,132. ADA currently ranks at #8 in the cryptocurrency rankings.

ADA/USD 4-hour price analysis

Cardano price analysis for 4-hours illustrates that the present condition of the market demonstrates positive potential as the price moves downwards. Moreover, the market’s volatility follows a decreasing movement, resulting in the cryptocurrency being less prone to volatile change on either extreme. As a result, the upper limit of Bollinger’s band rests at $0.4831, serving as the strongest resistance for ADA. Conversely, the lower limit of Bollinger’s band is present at $0.4577, serving as a support point for ADA.

The ADA/USD price travels under the Moving Average curve, indicating the market is following a bullish movement. However, as the market experiences low volatility today, the Cardano price has significantly less room to move towards either extreme. In addition, the ADA/USD price seems to move downwards, signifying a decreasing market with further decreasing dynamics.

image 218
ADA/USD 4-hour price chart Source: TradingView

Cardano price analysis reveals that the Relative Strength Index (RSI) score is 33 making the cryptocurrency enter an undervalued region. Furthermore, the RSI score moves downwards, indicating that selling activity is dominant while moving towards stability.

Cardano price analysis for 1-day

Cardano price analysis for one day has experienced a decreasing movement in the last few days. However, with the volatility increasing. Moreover, as the volatility opens, it makes the value of the cryptocurrency more volatile to change. As a result, the upper limit of Bollinger’s band rests at $0.52, serving as the most substantial resistance for ADA. Contrariwise, the lower limit of Bollinger’s band rests at $0.42, serving as a support point for ADA.

The ADA/USD price appears to be crossing under the Moving Average curve, displaying bearish momentum. However, the support and resistance are opening in, indicating increasing volatility with massive room for further activity on either extreme. Hence, the price moves upwards towards increasing characteristics.

image 219
ADA/USD 1-day price chart Source: TradingView

The Relative Strength Index (RSI) score appears to be 44, showing the cryptocurrency’s stable value. It falls in the lower-neutral region. However, the RSI score follows a decreasing movement signifying a decreasing market and gestures toward decreasing dynamics. In addition, the decreasing RSI score indicates that the selling activity is dominant.

Cardano Price Analysis Conclusion

Cardano price analysis conclusion reveals the cryptocurrency’s value to be decreasing. The ADA/USD might soon enter a downright bearish dominion, decreasing the price of Cardano as they go. The bears are expected to maintain their control; as the market moves towards stability, the bulls gain a substantial chance to maintain the market and decline the value of Cardano.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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Narmin

Narmin

Narmin is a passionate fintech writer and blockchain enthusiast backed by extensive experience in psychology and statistics.

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