It is a technical analysis interpretation of the coins that should be in the basket, albeit a little. In addition, there may be needle-like sags below the 144-week moving average. Let’s see a weekly volume green candle on the downtrend line, or it should be broken with a volume candle on the daily and then the throwback should be upwards. Before the break occurs, the upward targets cannot be said before the price matures.
We will be updating this page as the price moves on.
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Ada Coin Key Points
- ADA price retests the $0.83 support
- A falling wedge pattern is ruling the ADA price action.
- ADA coin intraday trading volume is $613.70 Million, which means a loss of 31.6%.
Cardano (ada) at the critical threshold
On February 18, ADA buyers lost the crucial $1 support per year. Sellers pulled the altcoin to the $0.825 level, followed by a retest phase to confirm the new inverted resistances at $1.
The renewed selling pressure dropped the altcoin by 18.3% and retested the bearish support of $0.82. A break below the said support will indicate the resumption of the downtrend so the price could reach $0.678, which is a 17.6% drop.
Contrary to the assumption above, an upside return from the $0.86 mark will show traders stocking up on this drop and the price will quickly rise to the $1 level.
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Cardano ADA 2022: Is Cardano dead or just getting started?
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