• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
No Result
View All Result
Breaking News: Dogecoin Surges 6% After Elon Musk Unveils Crypto Payment Master Plan
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
No Result
View All Result
NewsBTC
No Result
View All Result
Breaking News: Dogecoin Surges 6% After Elon Musk Unveils Crypto Payment Master Plan
Cardano Price

Cardano Price At $0.44 With Strong Support, What’s Next?

anushsamal by anushsamal
5 months ago
in Cryptocurrency news
Reading Time: 2 mins read
Advertisement

Cardano price registered bearishness as it declined from the $0.48 level at the time of writing. Over the last 24 hours, the coin fell by over 2%. In the past week, it declined by 12%. Bitcoin’s move to the $20,000 had led to other altcoins falling on their charts as well. ADA was managing to appreciate slowly however, the bulls could not sustain the price momentum at the time of writing.

The altcoin had managed to trade near the $0.48 price level but it was met with selling pressure as it could not move above the $0.49 resistance mark. The technical outlook for the coin shifted towards bearishness as soon as the coin touched the $0.44 price level.

The immediate support for ADA was at $0.43. Sellers had taken over the market at the time of writing. The coin recently broke below the support line of $0.44, it had managed to trade above that level for a significant period of time. Lack of demand has caused Cardano price to further lose value. The global cryptocurrency market cap today is $1.05 Trillion after a 4.4% negative change in the last 24 hours.

Don't wait! Jump on this Crypto Deal and get a 150% Welcome Bonus plus 100 Free Spins on your deposit today!
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!

Cardano Price Analysis: Four-Hour Chart

Cardano Price
Cardano was priced at $0.44 on the four-hour chart | Source: ADAUSD on TradingView

ADA was trading for $0.44 at the time of writing. There has been a sharp decline in the price of the altcoin after it revisited the $0.48 level. The support level for the coin stood at $0.42 and a fall below that could cause ADA to trade at $0.38.

Overhead resistance for the coin stood at $0.49. If the buying strength resurfaces then a move above the $0.49 level could be expected. The next resistance mark would be at $0.52 for the altcoin. The trading volume of Cardano fell which indicated that sellers had taken over at the time of writing.

Cardano Price
Cardano registered a fall in buying strength on the four-hour chart | Source: ADAUSD on TradingView

ADA depicted selling strength on the four-hour chart as the price of the altcoin registered reduction. The continued sideways movement caused buyers to leave the market.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?

The Relative Strength Index was below the half-line which meant that sellers had taken over the market at press time.

Cardano price was below the 20-SMA line signifying lower demand levels and that sellers were driving the price momentum in the market.

Related Reading: Does Bitcoin Price Show Signs Of Reversal After Trading Laterally?
Cardano Price
Cardano displayed a chance of less volatility on the four-hour chart | Source: ADAUSD on TradingView

The altcoin started to picture a selling signal on the four-hour chart. The Moving Average Convergence Divergence points at the price momentum and reversal of the same. MACD underwent a bearish crossover and just displayed one red signal bar which was a sell signal for ADA.

This could also mean that ADA might lose value over the next trading sessions as well. Bollinger bands indicate price volatility and price fluctuations. Bollinger Bands were parallel and that meant price of ADA would trade around the same level over the immediate trading sessions.

Related Reading: WATCH: Powell Versus Bitcoin Price Log Curve | Daily TA August 26, 2022
Featured image from UnSplash, Charts from TradingView.com
Tags: ADAadausdADAUSDTCardano
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
anushsamal

anushsamal

Related Posts

AI Vitalik Buterin Blockchain Ethereum Privacy

AI Token AGIX Surges Over 700% In 2023, Here’s Why

7 hours ago
Bitcoin

Bitcoin Small Addresses Have Been Rapidly Growing, Here’s What It Means

8 hours ago
Crypto BTC BTCUSDT

Crypto Sees Increased Fund Flow Due To Investor Sentiment, Report Shows

11 hours ago
Crypto Bitcoin BTC BTCUSDT

Why Crypto Could Face “First Real Recession”, Analyst Suggests

14 hours ago
On-chain Activity On BNB Chain Grew In Q4 Amid Market Downtrend: Messari

On-chain Activity On BNB Chain Grew In Q4 Amid Market Downtrend: Messari

17 hours ago
Cardano

Cardano Whales, Sharks Have Accumulated 406M ADA In 2023: Santiment

18 hours ago

Premium Partners

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Metaspins

Metaspins

Review · Visit
Trust Dice

Trust Dice

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
Coinplay

Coinplay

Review · Visit
mBit

mBit

Review · Visit
Vave

Vave

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
Coinplay

Coinplay

Review · Visit

Is January 2023 A Good Time To Buy Bitcoin?

February 7, 2023

Meta Masters Guild Blows Past $3 Million in Presale as Stage 5 Comes to a Close

February 6, 2023

Investors in Cardano (ADA) And Solana (SOL) Are More Interested In Flasko (FLSK) Presale

February 6, 2023

QIE Wallet & Web 3 Banking – The Entry Point to QI Ecosystem

February 6, 2023

Why Orbeon Protocol (ORBN) Is the Next Big Opportunity for Bitcoin (BTC) and Ethereum (ETH) Investors

February 6, 2023

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Links

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2022 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play Games
  • Play Casino Games
  • Free Spins

© 2022 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.