Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion. Cardano had a bullish structure on the daily timeframe. It ran into resistance near $0.385 and the bulls were unable to defend the $0.36 level. Cardano [ADA] saw a break in structure and its momentum […]
at press time, a bearish reversal could not be counted out yet. A move above $22.6k was significant- but have the recent days of trading been a deviation before a reversal?Plotting the path forward as ADA shows some near-term losses that were possibleOn the four-hour chart presented above, it was seen that ADA faced some resistance at $0.383. In the past few hours of trading, it was forced to drop sharply below the $0.357 mark.
The RSI fell below neutral 50 in recent hours to show some downward momentum. Meanwhile, the OBV has not slipped beneath a support level from earlier this month, which meant bulls were still in the fight. Since Bitcoin was at a critical location, confirmation of a bullish continuation or deviation could take some time to form. Given the bullish structure on the daily timeframe, ADA bulls can wait for a move to $0.34 or $0.325 and a bounce in prices thereafter, before bidding.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Analyzing Cardano’s potential for price correction amid Djed stablecoin launchCardano’s stablecoin will be launched next week. ADA will likely shed the gains it has recorded so far this year. Cardano’s [ADA] native over-collateralized stablecoin, Djed will be launched “next week,” as per a 24 January blog post published by COTI, the layer-1 scalable enterprise network powering the coin. We are pleased to share another […]
Read more »
Cardano's first native stablecoin will launch next weekThe Cardano network will get its first stablecoin next week with the launch of the overcollateralized decentralized algorithmic stablecoin Djed.
Read more »
Ethereum short-term gains wiped out: Can bulls prevent further plungeDisclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion. ETH’s weak fundamentals could delay immediate price reversal. Short-term Ethereum holders’ profits could be cut to size. Ethereum [ETH] dropped below its $1,600 mark after Bitcoin [BTC] lost the $23k zone. BTC sharply declined […]
Read more »
XRP is likely to see another 9% move higher; the reasons are pretty surprisingDisclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion. The imbalance to the north was likely to be filled in the coming days. A push as high as $0.5 can occur, but bulls can look to take profit along the way. XRP bulls have […]
Read more »
Binance Coin repays investor confidence as it soars above $300, will $350 be nextDisclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion. The retest of the $280 area saw a sharp bullish reaction. $307 has offered resistance over the past ten days but was beaten in the recent hours of trading. Bitcoin [BTC] continued to stay above […]
Read more »
Here is why MATIC traders can expect selling pressure to increase at $1.03Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion. The $1.05 has posed stern resistance in the past two weeks. A revisit to the 12-hour bullish breaker and Fibonacci retracement level could be expected. Polygon [MATIC] saw bullish sentiment rise in recent weeks. On-chain […]
Read more »