Cardano (ADA) price experienced a protracted run along a falling angle formed on June 27, when the price was $0.52. Since then, ADA has retreated gradually to find support at $0.44.<\/p>\n
Nonetheless, ADA may be slowly returning to\u00a0the green zone, as its price increased throughout the weekend\u2019s session after plummeting to a low of $0.43 on Friday.<\/p>\n
Cardano is a decentralized proof-of-stake blockchain platform of the third generation aiming to be a more effective option to proof-of-work networks.<\/p>\n
Suggested Reading | Ethereum (ETH) Bends Toward $1,000 As Doubt Fills Crypto Markets<\/p>\n
The token\u00a0is at a crossroads at this point, and the price might move in any direction. If the bulls can summon enough strength, an upswing to $0.64 is possible, but the support zone around $0.42 to $0.44 might potentially provide some more push for the coin.<\/p>\n
In the next days, the overall trend will likely benefit the sellers. Unless buyers intervene at the immediate support level, ADA could experience a lengthy dip prior to a robust recovery.<\/p>\n
Bear Market Pushes ADA To 7-Day Weakness<\/p>\n
As of this writing, ADA is trading at $0.4507, down 9.5% in the last seven days, data from Coingecko show, Sunday.<\/p>\n
The broader crypto\u00a0market continues to exhibit bearish indicators, headed by Bitcoin\u2019s inability to surpass the $20,000 threshold. BTC, the most sought-after cryptocurrency, is currently trading at $19,105, down 11.2% in the past week, according to Coingecko statistics.<\/p>\n\n
ADA total market cap at $15.6 billion on the weekend chart | Source: TradingView.com<\/p>\n
In contrast, Ethereum declined by more over 2 percent, remaining just above the $1,000 threshold. Ripple and Dogecoin remained unchanged at $0.44 and $0.05 respectively, while Solana declined 2% to $33.04. Litecoin decreased by 2% to $50.57, whereas Polkadot fell to $6.70.<\/p>\n
ADA ranks eighth on CoinMarketCap\u2019s chart of the largest cryptocurrencies by market capitalization. The coin saw a 24-hour decline of 3.80%, bringing its price to $0.4514. Consequently, its entire market capitalization is $15.37 billion.<\/p>\n
The Bulls Have Their Hands Full To Lift Cardano<\/p>\n
If the bulls are able to retake the 21-day simple moving average, which is now located at $0.50, the bearish downtrend could be invalidated early on. If the bulls can reclaim this level, they may be able to advance to $1.20, a 170 percent increase from the current Cardano price.<\/p>\n
As evidenced by the rising relative strength index (RSI) score of 41.40, ADA is likely to advance at the present time.<\/p>\n
Suggested Reading |\u00a0Shiba Inu (SHIB) Shines Green In Pool Of Crimson \u2013 Who\u2019s Buying?<\/p>\n
If buyers can consolidate above the current trend over the next 24 to 48 hours, ADA will be aiming for the critical 50-day exponential moving average (EMA).<\/p>\n
For a trend reversal to materialize, ADA must close above the present pattern\u2019s upper limit within the following 24 hours. In contrast, a decline to $0.42 might undercut the optimistic rationale.<\/p>\n
Featured image from Cryptoknowmics, chart from TradingView.com<\/p>","protected":false},"excerpt":{"rendered":"
<\/p>\n
Cardano (ADA) price experienced a protracted run along a falling angle formed on June 27, when the price was $0.52. Since then, ADA has retreated gradually to find support at $0.44.<\/p>\n
Nonetheless, ADA may be slowly returning to\u00a0the green zone, as its price increased throughout the weekend\u2019s session after plummeting to a low of $0.43 on Friday.<\/p>\n
Cardano is a decentralized proof-of-stake blockchain platform of the third generation aiming to be a more effective option to proof-of-work networks.<\/p>\n
Suggested Reading | Ethereum (ETH) Bends Toward $1,000 As Doubt Fills Crypto Markets<\/p>\n
The token\u00a0is at a crossroads at this point, and the price might move in any direction. If the bulls can summon enough strength, an upswing to $0.64 is possible, but the support zone around $0.42 to $0.44 might potentially provide some more push for the coin.<\/p>\n
In the next days, the overall trend will likely benefit the sellers. Unless buyers intervene at the immediate support level, ADA could experience a lengthy dip prior to a robust recovery.<\/p>\n
Bear Market Pushes ADA To 7-Day Weakness<\/p>\n
As of this writing, ADA is trading at $0.4507, down 9.5% in the last seven days, data from Coingecko show, Sunday.<\/p>\n
The broader crypto\u00a0market continues to exhibit bearish indicators, headed by Bitcoin\u2019s inability to surpass the $20,000 threshold. BTC, the most sought-after cryptocurrency, is currently trading at $19,105, down 11.2% in the past week, according to Coingecko statistics.<\/p>\n
ADA total market cap at $15.6 billion on the weekend chart | Source: TradingView.com<\/p>\n
In contrast, Ethereum declined by more over 2 percent, remaining just above the $1,000 threshold. Ripple and Dogecoin remained unchanged at $0.44 and $0.05 respectively, while Solana declined 2% to $33.04. Litecoin decreased by 2% to $50.57, whereas Polkadot fell to $6.70.<\/p>\n
ADA ranks eighth on CoinMarketCap\u2019s chart of the largest cryptocurrencies by market capitalization. The coin saw a 24-hour decline of 3.80%, bringing its price to $0.4514. Consequently, its entire market capitalization is $15.37 billion.<\/p>\n
The Bulls Have Their Hands Full To Lift Cardano<\/p>\n
If the bulls are able to retake the 21-day simple moving average, which is now located at $0.50, the bearish downtrend could be invalidated early on. If the bulls can reclaim this level, they may be able to advance to $1.20, a 170 percent increase from the current Cardano price.<\/p>\n
As evidenced by the rising relative strength index (RSI) score of 41.40, ADA is likely to advance at the present time.<\/p>\n
Suggested Reading |\u00a0Shiba Inu (SHIB) Shines Green In Pool Of Crimson \u2013 Who\u2019s Buying?<\/p>\n
If buyers can consolidate above the current trend over the next 24 to 48 hours, ADA will be aiming for the critical 50-day exponential moving average (EMA).<\/p>\n
For a trend reversal to materialize, ADA must close above the present pattern\u2019s upper limit within the following 24 hours. In contrast, a decline to $0.42 might undercut the optimistic rationale.<\/p>\n
Featured image from Cryptoknowmics, chart from TradingView.com<\/p>\n
<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-2610","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/2610","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=2610"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/2610\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=2610"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=2610"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=2610"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}