Join Our Telegram channel to stay up to date on breaking news coverage
Sellers’ pressure increases in Cardano market
ADA Price Analysis – October 30
In case the bears’ momentum pushes the price to break down the support level of $0.31, the price may decrease to $0.30 and $0.28 levels. Should buyers oppose sellers at $0.31, Cardano’s price may increase toward the high of $0.33, $0.34, and $0.36 levels.
ADA/USD Market
Key Levels:
Resistance levels: $0.33, $0.34, $0.36
Support levels: $0.31, $0.30, $0.28
ADA/USD Long-term Trend: Bearish
Cardano is bearish on the daily chart. Cardano tested the support level of $0.34 on 21 October. It pulled back when the bulls defended the just-mentioned level. There was a retracement toward the resistance level of $0.44. It carried out a ranging movement within $0.38 and $0.44 levels. On 8 November the sellers gained more pressure with the formation of strong bearish candles. The price declined to test the support level of $0.31.
Cardano is trading below the two dynamic resistance levels of 9 periods EMA and 21 periods EMA which connote an increase in the sellers’ momentum. In case the bears’ momentum pushes the price to break down the support level of $0.31, the price may decrease to $0.30 and $0.28 levels. Should buyers oppose sellers at $0.31, Cardano’s price may increase toward the high of $0.33, $0.34, and $0.36 levels.
ADA/USD Medium-term Trend: Bearish
Cardano is bearish on the 4-hour chart. The resistance level of $0.44 is tested twice; this indicates that bullish momentum is getting weak. The sellers produced more pressure and the coin declined below the previous low at $0.31 support level. The just-mentioned level is tested on 09 November and pulled back. At the moment, it seems the price wants to retest the $0.31 level.
Price is trading below the two EMAs and the 9 periods EMA has crossed the 21 periods EMA downside as an indication of increased bearish momentum. The relative strength index period 14 is pointing downside at 40 levels displaying a bearish direction.
This Is a Rare Opportunity to Buy IMPT
The IMPT presale continuously increases daily. At the moment, its worth is almost $13m, this is achieved within a short period.
Dash 2 Trade (D2T) Token Is Selling Fast
Dash 2 Trade (D2T) users are permitted to invest in the project at the earliest stages and this is one of the major advantages. At the moment D2T token has acquired close to $6m.
Related
Join Our Telegram channel to stay up to date on breaking news coverage
