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- Cardano, at time of penning down this analysis, was trading at $0.049 and has incredibly recorded a dip of over 6% when compared with the 24-hour high of $0.0522
- ADA’s extended fall against the US Dollar has led the coin to nosedive below the major support at $0.050
- The 20-day Bollinger Bands laid do not project about any unpredictable volatility in the upcoming days
- The intraday appears bullish due to positive hourly correction after hitting bottom at $0.0463
ADA coin records a notable dive below $0.060 after three days of price accumulation within $0.057 to $0.062. Moreover, over the past 7 days, the price of ADA has recorded a fall of over 26% from the weekly high of $0.0634 to the low at $0.0463.
Cardano Price Analysis
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Analyzing the hourly movement of Cardano against US Dollar on Kraken, we see that the coin has experienced a freefall over the past 24 hours, sliding from 61.80% to 38.20% Fib Level. The 20-day Bollinger Bands do not project about any vulnerable volatility in the upcoming days. However, after the price accumulation, ADA coin failed to retain support from 50-day and 200-day daily MA.
Although, the price has seen positive crossover as the intraday price rose from $0.0463 to the current trading price, i.e., 0.0498, and thereby the MACD of the coin crosses above the signal line.
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Similarly, the RSI of Cardano is also at 47.42 and has risen from the major support at 30 or the oversold region hit when the price of ADA bottomed at $0.0463.
