Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice. Cardano dips beneath range lows yet again Buyers have defended $0.42…so far Cardano [ADA] was expected to surge on the price charts after the Vasil hardfork was pushed out. Yet, the price persisted in its […]
Technical indicators did not paint a bright, bullish scenario in the weeks to come.
Beneath the range lows, the next strong support level sat at $0.4. Since July, the $0.42-$0.44 was also established as a zone of support. However, it has been tested for the third time in as many months. The level most likely weakened upon each test, and could soon break if ADA was unable to break out of its bearish shackles.
This showed that the buying and selling volume have been in balance overall since mid-August. However, this was not a bullish sign for ADA, as accumulation at the range lows was not witnessed. The Aroon indicator also signaled a downtrend in progress.The development activity measured based on the project’s public GitHub repository showed surges and declines quite uncorrelated to the price. However, the point isn’t correlation, but rather that the $14.
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Cardano’s [ADA] price reacts this way as Voltaire hint airsLate in September, Cardano [ADA] released the Vasil hardfork. Positive feelings persisted after the fork, as the network continued to function normally. Now, Cardano’s founder, Charles Hoskinson, on 3 October intimated that the next phase, the age of Voltaire, was on the horizon now that Vasil has been functioning as planned. The Age of Voltaire […]
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