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Cardano price analysis: ADA gains value at $0.3572

Cardano price analysis: ADA gains value at $0.3572

TL;DR Breakdown

  • Cardano price analysis is bearish today.
  • The strongest resistance is present at $0.4578.
  • The strongest support is present at $0.3556.

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 $0.3585 mark but spiked soon after to $0.3623. Cardano continues a massive negative movement. Furthermore, Cardano prices decreased today, on October 19, 2022, again, and reached $0.3572. ADA currently trades at $0.3572; ADA has been down 2.09% in the last 24 hours with a trading volume of $436,655,524 and a live market cap of $12,208,473,911. 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 negative potential as the price moves downwards. Moreover, the market’s volatility follows an increasing movement, resulting in the cryptocurrency being more prone to volatile change on either extreme. As a result, the upper limit of Bollinger’s band rests at $0.3776, serving as the strongest resistance for ADA. Conversely, the lower limit of Bollinger’s band is present at $0.3556, serving as a support point for ADA.

The ADA/USD price travels under the Moving Average curve, indicating the market is following a bearish movement. However, as the market experiences increasing volatility today, the Cardano price has significantly more room to move towards either extreme. In addition, the ADA/USD price seems to move upwards, signifying an increasing market with further increasing dynamics, showing reversal potential which may result in a complete bullish rule of the market.

image 270
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 the undervalued region. Furthermore, the RSI score moves upward, indicating that buying activity is dominant while moving toward further increasing dynamics.

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 $0.4578, serving as the strongest resistance point for ADA. Contrariwise, the lower limit of Bollinger’s band rests at $0.3442, serving as the strongest 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 up, indicating increasing volatility with massive room for further activity on either extreme. However, the price moves downwards towards further decreasing characteristics.

image 271
ADA/USD 1-day price chart Source: TradingView

The Relative Strength Index (RSI) score appears to be 25, showing the cryptocurrency’s extremely low value. It falls in the devaluation 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’s price analysis conclusion reveals the cryptocurrency’s value to be dormant. 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 bears gain a substantial chance to maintain the market and further 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.

Narmin

Narmin

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

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