Binance Square
LIVE
LIVE
Vladislav Hryniv
--惻1.4k views
šŸ”„ BeinCrypto Analytics: $ADA Faces 30% Price Cut A conceivable scenario for the ADA price entails a bullish rebound from the current Fib support level at approximately $0.584. Cardano could ascend toward the golden ratio at around $0.72 if this materializes. The corrective trajectory would be nullified only uponĀ breaching the golden ratioĀ at approximately $0.72, paving the way for Cardano to target the golden ratio at around $0.86. However, the ADA price might retreat to the golden ratio support at approximately $0.44 if a bearish rejection. Notably, the MACD lines in the weekly chart have recently crossed into bearish territory. Moreover, the MACD histogram exhibits a downward trend and theĀ RSIĀ hovers in neutral territory. Conversely, the EMAs continue to display a golden crossover, affirming the bullish trend in the medium term. If Cardano manages to initiate a bullish rebound from the 0.382 Fib support level at approximately $0.584, it could potentially surge by approximately 22% to confront the golden ratio resistance at around $0.72. However, the presence of the 50-day EMA as resistance at roughly $0.624 cannot be overlooked. Notwithstanding, the indicators currentlyĀ convey predominantly bullish signals. The daily chart still portrays a golden crossover, while the MACD histogram has displayed bullish momentum over the past few days. Consequently, there is a possibility that the MACD lines might soon cross bullishly. #CardanoSurge

šŸ”„ BeinCrypto Analytics: $ADA Faces 30% Price Cut

A conceivable scenario for the ADA price entails a bullish rebound from the current Fib support level at approximately $0.584. Cardano could ascend toward the golden ratio at around $0.72 if this materializes.

The corrective trajectory would be nullified only uponĀ breaching the golden ratioĀ at approximately $0.72, paving the way for Cardano to target the golden ratio at around $0.86.

However, the ADA price might retreat to the golden ratio support at approximately $0.44 if a bearish rejection. Notably, the MACD lines in the weekly chart have recently crossed into bearish territory.

Moreover, the MACD histogram exhibits a downward trend and theĀ RSIĀ hovers in neutral territory. Conversely, the EMAs continue to display a golden crossover, affirming the bullish trend in the medium term.

If Cardano manages to initiate a bullish rebound from the 0.382 Fib support level at approximately $0.584, it could potentially surge by approximately 22% to confront the golden ratio resistance at around $0.72.

However, the presence of the 50-day EMA as resistance at roughly $0.624 cannot be overlooked. Notwithstanding, the indicators currentlyĀ convey predominantly bullish signals.

The daily chart still portrays a golden crossover, while the MACD histogram has displayed bullish momentum over the past few days. Consequently, there is a possibility that the MACD lines might soon cross bullishly.

#CardanoSurge

Disclaimer: Includes third-party opinions. No financial advice.Ā See T&Cs.
0
Explore the lastest crypto news
āš”ļø Be a part of the latests discussions in crypto
šŸ’¬ Interact with your favorite creators
šŸ‘ Enjoy content that interests you
Email / Phone number
Relevant Creator

Explore More From Creator

--
šŸš€ According to U.Today: $BTC on Verge of Losing $60,000 Bitcoin is currently on the brink of dropping below the $60,000 level, a significant psychological and technical level for the cryptocurrency. As observed on the chart, a descending trendline is clearly applying downward pressure, guiding Bitcoin into forming lower lows. This pattern suggests that the downward momentum might continue in the near term. The current market dynamics show Bitcoin's price being squeezed by this descending trendline. Every attempt to push upwards meets resistance, leading to lower highs ā€” a classic indicator of a continuing downtrend. Notably, the volume of trades has been decreasing, which typically indicates a weakening of the current trend and potentially sets the stage for a trend reversal. However, the current signals suggest that the market is not yet ready to reverse to being bullish. Adding to the complexity of the movements is the potential formation of a higher low, which could be the first sign of an impending shift in trend. This is a critical observation as it could signify that although the overarching trend is bearish, there is some buying interest at lower levels that prevents further drops, providing a temporary floor for Bitcoin's price. The immediate future of Bitcoin's price largely depends on its interaction with the trendline and key moving averages. Currently, the 50-day Exponential Moving Average (EMA) sits around $65,000, acting as potential upper resistance in case of any bullish reversal.
--

Latest News

View More
Sitemap
Cookie Preferences
Platform T&Cs