Coin-Miners - Crypto Currency Tracker logo Coin-Miners - Crypto Currency Tracker logo

NewsBTC 2022-09-28 10:00:01

Cardano Price Fails To Pierce Through $0.48 As Bears Continue To Dominate

Cardano price has been consolidating on its chart at the time of writing. Over the past day, ADA moved down by 0.6%, indicating that the altcoin was rangebound. In the past week, Cardano price has depreciated by 3%. The bulls had helped the coin to soar close to the $0.46 level as demand for the coin returned briefly on the chart. There has been rigid resistance to the altcoin at the $0.48 price mark. The technical outlook of the Cardano price has remained bearish as selling strength mounted on the chart. The support zone for the coin stood between $0.44 and $0.40 on the chart. If buying strength returns, the coin may try to move close to $0.46 before attempting $0.48. At the present time, ADA is trading 86% lower than its all-time high. With increased and sustained demand, ADA should be able to manage to move above $0.48, which could cause the altcoin to invalidate its bearish thesis. Cardano Price Analysis: One Day Chart ADA was trading at $0.44 at the time of writing. The bulls had stuck around for Cardano price to touch the $0.46 mark. The bulls were rejected soon after that. Overhead resistance for ADA was at $0.48, following which the coin might encounter another price ceiling at $0.52 before unleashing the bulls again. On the other hand, the nearest price floor for Cardano was $0.41. Falling below that level will only strengthen the power of the bears. The amount of Cardano traded in the last session fell, indicating th...

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.