Cardano is at the YTD open price, which we anticipate to act as a resistance. Technically price is also at a support / resistance structure, and the stochastic and RSI are both at overextended levels. Downside target: $0.70 Violated above: $1.40 Entry: At market.
Crypto holders globally have been excited with the recent upturn in popular cryptocurrency markets. A group of US lawmakers have declared that the US Treasury Department may be the right entity to create a digital dollar – not the Federal Reserve. The “ECASH” bill (introduced 28/3/22), as it is being branded, would authorize just that.Continue reading “Crypto Appears Bullish As US Lawmakers Introduce “ECASH” Bill”
Cardano is approaching support again at the key $1 mark (USD). If price is successfully able to break below this mark it is likely that the cryptocurrency will see sustained downside for a longer period of time. Price is holding below the resistance trendline, and was unable to sustain upside into the resistance on theContinue reading “ADA/USD Approaching Support at $1”
ADA is making a rebound today out of the daily trendline resistance. I am looking for support to hold, and price to make a bounce in the trading session later today. Technically I’m looking for price to bounce from the key figure of $1.50, which is just above yesterdays Asia Session high & the EUContinue reading “ADA/USD Upside – 16 Jan 2022”
Cardano (ADA) has enjoyed a multi day rally however is now losing momentum. Price has been in a bearish market for the last 6 months, and we anticipate this long term trend to continue. Technically price has pulled back into a key structure zone, which is now acting as resistance. Price has also formed aContinue reading “ADA/USD Downside? 17 Jan 2022”
The cryptocurrency market is on sale at the moment and Cardano (ADA) is no exception. Price has taken a plunge into a key demand zone around the $1.20 – $1.00 price zone. At this price ADA is certainly deemed cheap, and these relatively low prices won’t last for long. Technically speaking The RSI is showingContinue reading “ADA/USD STRIKES SUPPORT! Upside To Come?”
ADA/USD is moving to the downside aggressively now, holding below the 4H 50 moving average. The RSI is pointing to continued downside, and we are targeting the 61.8% Fibonacci level extension. Downside Target: 1.400 Violated Above: 2.100
We recently stated our upside bias for Cardano based on technical analysis, but why is Cardano our top crypto pick? Technology ADA currently processes around 300 transactions per second. The upcoming hydra update is set to massively increase transaction frequency. Each Hydra Node can process 1,000 transactions per second, and there are 1,000 such nodesContinue reading “Why Cardano (ADA) Is My #1 Pick”
ADA (Cardano) has stabilised above the fibonacci golden pocket zone (between 50-61.8% retracement. Technically the pair is holding support, which also lies around the significant $2.000 mark. We anticipate upside out of this zone into fibo extension around $3.600. ADA is set to release smart contracts late Q4 – early Q1 2022.