As trading momentum and volume continue to prove elusive, ADA planted a leg down to $0.900 on Monday amid a reversal from the multi-month channel top. However, the cryptocurrency appears to have regained a grip on price action, as a move below $0.900 seems unlikely in the near term.
That said, ADA needs a push above the $1.000 barrier to further stall the bearish momentum. Regardless, a bullish sentiment will only return to this crypto after it reclaims the $1.050 line, where my 100 EMA resides.
With the weekend, which is typically volatile for the cryptocurrency market, at our doorstep, Cardano could encounter a make or break moment, as bulls aim for the $0.700 midpoint while bulls the $1.100 in the near term.
Meanwhile, our resistance levels are $1.000, $1.050, and $1.100, and our support levels are $0.900, $0.800, and $0.700.
Total Market Capitalization: $1.86 trillion
Cardano Market Capitalization: $31.7 billion
Cardano Dominance: 1.7%
Market Rank: #8
That said, ADA needs a push above the $1.000 barrier to further stall the bearish momentum. Regardless, a bullish sentiment will only return to this crypto after it reclaims the $1.050 line, where my 100 EMA resides.
With the weekend, which is typically volatile for the cryptocurrency market, at our doorstep, Cardano could encounter a make or break moment, as bulls aim for the $0.700 midpoint while bulls the $1.100 in the near term.
Meanwhile, our resistance levels are $1.000, $1.050, and $1.100, and our support levels are $0.900, $0.800, and $0.700.
Total Market Capitalization: $1.86 trillion
Cardano Market Capitalization: $31.7 billion
Cardano Dominance: 1.7%
Market Rank: #8
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.