- Cardano token at the monthly chart is trying to rebound from the demand or support levels at the lower side.
- Currently, the crypto asset is trading under intense selling pressure from the higher levels and drops below its all vital moving averages of 20, 50, 100, and 200-day lines.
- The pair of ADA/BTC is trading at 0.00002929 BTC with a 24-hour loss of -2.08%, and the ratio of ADA/ETH is CMP at 0.0003913 ETH with an intraday gain of -1.67%
Cardano token over the monthly chart is trading on the bearish note and falls below its all-moving average line of 20, 50, 100, and 200-days. The digital asset is trying to sustain above its support zone after a sharp decline from the higher levels. Presently, the coin is sustained above the support zone between $1.40 to $1.60. We can see a good recovery in upcoming trading sessions once the token sustains above its DMA of 200 and 100-day line with supportive volume action.
Volume over the monthly chart is continuously declining and falls below its average volume line, which needs to grow strongly in upcoming trading sessions. Support on the lower side is $1.55 and $1.50, whereas resistance on the higher side is $1.98 and $2.45.
Cardano token is trading under the strong bearish momentum while making lower lows and highs
Cardano token at the weekly chart is trading under the strong bearish momentum while making lower lows and highs. Volume activity at the 4-hour time frame is lower and needs to grow strongly for a strong bounce back. The technical parameters are near the lower classes, and bounce back from the current levels is expected. Cardano token at the monthly chart is trading at $1.68 with an intraday dip of -1.21%, and the volume to market cap ratio is at 0.05649.
Relative Strength Index (NEUTRAL): Cardano token RSI is trading negatively after a strong selloff from the overbought levels. The coin is currently trying to move towards the lower zone and CMP at 34.
Moving Average Convergence Divergence (BEARISH): The daily chart indicates a bearish trend at the 4-hour time frame. At the same time, the buyer’s signal line (green) is trading under pressure, while the seller’s line overpowers.
Support levels: $1.55 and $1.50,
Resistance levels: $1.98 and $2.45.