Cardano Prize: Ada is ready while the bears stay
Cardano Prize: Ada is ready while the bears stay
- The Cardano Prize was difficult to stay over $ 0.25, since the cryptocurrencies remained largely unchanged.
- Since the general market decline last year, ADA has not managed to break up.
Cardano (ADA) struggles to push up, since according to the data from Coingecko at the time of writing, only an increase of 2.2 % was recorded last week. In fact, ADA has dropped by 43 % since the decline in the crypto winter. ADA/USD was traded just over $ 0.25 on Wednesday afternoon.
Since the cryptocurrency is largely negative, the market prospects in the middle of the historically slow September do not look particularly promising. Data on defillama shows The assets in the chain dropped by 8 % to $ 152 million in the past month.
Since Bitcoin is over $ 27,000 and old coins show signs of waking up, an increase in volatility could help ada buyers. But will bear give up their territory?
Cardano price outlook
A look at Cardano's performance last week shows that the sellers have largely been resistant around the $ 0.25 brand. On the daily chart, Cardano is faced with a rejection of the 20-dayema, and this moving average remains crucial for bullish plans.
The daily RSI also gives sellers a slight advantage because it is below the 50s mark. This presents the bulls in front of the huge task of striving for the $ 0.28 brand in order to get a break and potential upward joy.
On the other hand, a breakthrough over 40.24 will pave the way for a declining renewed test of support in the range of $ 0.22 to $ 0.20.
Source: Coinlist.me
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