Cardano Price Squeezed Between Support And Resistance – Market Awaits Next Leg
Cardano’s price is caught in a tight range, holding above key support while facing resistance overhead. With momentum weakening, will ADA break higher or slide back toward lower levels in its next decisive move? Bearish AB=CD Pattern Completed With Rejection At $0.95 Alpha Crypto Signal, a crypto analyst on X, recently shared insights on Cardano’s price action, noting that ADA has just completed a bearish AB=CD pattern on the daily timeframe. The rejection around the $0.95 level confirms this setup, suggesting that the market may be preparing for a corrective move. Such harmonic patterns....
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In the past day, Cardano (ADA) has seen a 14% retrace amid the crypto market’s pullback. The cryptocurrency recently saw its price lose the $1 mark, descending below $0.90 on Monday morning. Despite the drop, some market watchers shared a positive outlook for ADA, asserting that a rebound to $1.30 could be around the corner. Related Reading: XRP Price To $5.85: Analyst Reveals Why The New Week Will Be ‘Dynamic’ Cardano Holds Key Higher Timeframe Support Cardano, alongside the rest of the market, ended the week with a Sunday bleeding, registering seven consecutive red candles yesterday....
Cardano (ADA) exhibited strength over the last 24 hours as the coin rallied by almost 25%. With Bitcoin trying to climb up on its chart, altcoins have reflected the same price action. Broader market seems to be regaining its lost momentum with major market movers showing signs of recovery. The global cryptocurrency market cap today stood at $1.38 Trillion with a 3.6% increase in the last 24 hours. The buyers have re-entered the market after the bears failed to drag the price below the $0.40 support line. Cardano bounced off the aforementioned support line and started its journey towards....
A crypto analyst has confirmed a recent breakdown of the Cardano price from an Ascending Channel pattern. With key support and resistance levels now in focus, the analyst has outlined two scenarios for ADA, projecting where its price could move next. Cardano Price Ascending Channel: Bullish Scenario The Cardano price has been trending within an Ascending Channel for some time, maintaining steady price momentum amidst market volatility. However, a TradingView crypto analyst, known as ‘MelikaTrader94’, has identified a recent change in the Cardano price action. The analyst highlights that....
Cardano displayed bearishness on its chart at the time of writing. Over the last 24 hours Cardano fell by 7% on its chart. Broader market also displayed bearish spell over the last few days. Bitcoin was bordering the $20,000 mark and the altcoins followed suit. ADA had over the past few days crossed past the $0.55 resistance mark but it failed to sustain itself above that price mark. The bears have exerted pressure in the market and the technical outlook has also pictured bearishness on the chart. Bullish strength has been on a halt as market movers have significantly depreciated on their....
The bearish outlook appears also as Cardano’s daily RSI reflects overbought sentiments. However, the euphoria surrounding Cardano’s smart contracts launch and its mild correlation with Bitcoin are keeping the upside hopes intact. The latest rally in the Cardano (ADA) market has activated a classic bearish pattern that threatens to lower its prices by as much as 15%.Dubbed as a rising wedge, the textbook pattern forms when the price consolidates between upward sloping resistance and support trendlines. Its occurrence typically prompts a bearish reversal, confirmed by a voluminous break....