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Cardano Price Prediction Today, October 29, 2022: ADA/USD Fights Back at Downside Forces

Cardano Price Prediction Today, October 29, 2022: ADA/USD Fights Back at Downside Forces
Cardano Price Prediction Today, October 29, 2022: ADA/USD Fights Back at Downside Forces

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ADA/USD is refusing to succumb to the effect of downward forces. This can be inferred from the activities of price candles and trading indicators used in the analysis of the Cardano market. At the same time, ADA/BTC market portrays a bit similar characteristics to that of the ADA/USD market. Consequently, this calls for further examination to determine possible future price moves in these markets.

ADA Analysis Statistics Data:
Cardano value now: $0.4032
Cardano market cap: $13.93 billion
ADA moving supply: 34.32 billion
The Total supply of Cardano: is 35.8 billion
ADA Coinmarketcap ranking: #8

Crucial Price Levels:
Top Levels: $0.4032, $0.4100, $0.4130
Base Levels: $0.4020, $0.400, $0.380

Cardano Price Prediction Today, October 29, 2022: ADA/USD Fights Back at Downside Forces

Cardano Price Prediction Today, October 29, 2022: ADA/USD Recovers from Selling Pressure

ADA/USD suddenly boosts skywards. This sudden bull run subsequently triggered some selling, due to traders anticipated a downside retracement. Portraying the recovery is the appearance of the last green candlestick, which still stands above the MA line. By implication, this portrays that price may have resumed its upside direction. Also, a close examination of the RSI lines reveals that this Indicator is about to portray a bullish crossover in the oversold region. Consequently, this confirms the possibility of Cardano’s price reaching higher, towards $0.4120.

Cardano Price Prediction Today, October 29, 2022: ADA/USD Fights Back at Downside Forces

Cardano Price Prediction Today, October 29, 2022: ADA/BTC Retraces Upwards off a Moving Average Curve

Downside Pressure attempted to initiate a downtrend in the ADA/BTC market as price candles falls toward the MA line. However, bulls soon regained control and moved price upwards. Moving on, the Moving Average curve remains under the price of candles, as the last bullish candle continues to push the price higher. On the contrary, the RSI has given a downward crossover in the oversold. Nevertheless, since price activities beyond the MA line appear bullish lately, price may be expected to climb higher towards 0.00002000. So Traders seeking to enter can position an entry order near the close of the last candlestick here.

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