Cardano, ADAUSD, CryptoCompare chartCardano Chart By Trading View

ADAUSD Medium-term Trend: Ranging

  • Resistance levels: $0.080, $0.090, $0.100                                                                                                                          
  • Support levels: $0.030, $0.020, $0.010 

The price of Cardano is in a sideways trend. On December 7, the price of Cardano fell to the low of $0.029 and commenced a range bound movement. The crypto’s price is fluctuating above the $0.029 price level. The cryptocurrency is likely to face A price breakout in the nearest future. It is most likely that the price of Cardano will fall in the nearest future.

One of the indices is that the crypto’s price is below the 12-day EMA and the 26-day EMA  which indicates that the price is in the bearish trend zone. The Stochastic indicator showed that the bands are in the oversold region below 20% range. This indicates that the price of Cardano has strong bearish momentum and a sell signal. The crypto is likely to further depreciate to the previous low of $0.026.                                                                                   

ADAUSD Short-term Trend: Ranging        

Cardano, ADAUSD, CryptoCompare chartCardano Chart By Trading View
   

On the 4-hour chart, the crypto’s price is in a sideways trend. The crypto’s price fell to the low of $0.029 and commenced a range bound movement. The price action is characterized by Doji candlesticks describing the indecision of the bulls and the bears.The 12-day EMA and the 26-day EMA are horizontally flat indicating that the price is in a sideways trend.

The crypto’s price is neither below nor above the 12-day EMA and the 26-day EMA indicating that the price is also in a sideways trend zone.  Meanwhile, the Relative Strength Index period 14 is level 53 which indicates that the price is in a sideways trend zone.

 

 

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