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Cardanobtc

Crucial for CardanoWeekly market structure (and daily if we zoom out a bit more) is still incredibly bullish for Cardano. Shorter term price action has lead to a couple of lower highs and lower lows. We a reaching a big support zone which coïncides with the 0.5FIB level. Should we hold this level then ADA will have set a higher low and could continue its longer term bullish momentum. 21 & 50 MA crossover, along with the widening of the MACD has got me worried wether or not this trade will play out. I have set a rather cautious stop loss as my last two trades got stopped out by a few sats only to then reach my targets. Curious to see how this one unfolds. What are your thoughts on ADA/BTC?
Long
by Coinathlon
2
ADA Digs Into Crucial Support, Is The Rally Over? Cardano loses ground within the confines of a descending parallel channel. The recovery from $2 support is a daunting task for the bulls, especially with the resistance highlighted by the IOMAP metric. Cardano continues to bite into the key support at $2 amid a highly challenging recovery journey. In early September, ADA climbed above $3 and traded an all-time high at $3.1. The correction that comes into the picture has not slowed down since, forcing the recently upgraded token to stay closer to the primary support. At writing, ADA trades at $2.15 while dealing with growing selling pressure at the descending channel’s upper boundary. This pattern has been in place since Cardano retreated from $3.1. If broken, the third-largest cryptocurrency might find new lifeblood for gains toward $2.5 and later $3. Cardano Price Recovery To $3 In Jeopardy From a short-term technical perspective, it is clear that buyers are having considerable difficulty sustaining the uptrend. On the downside, the smart contract token is in danger of dropping under the demand zone in green, a move that could trigger massive losses. If support at $2 is lost, panic will grip investors while lower levels like $2 and $1 beckon. Traders must keep in mind that the Moving Average Convergence Divergence (MACD) has a bearish outlook based on its position below the mean line on the daily chart. A sell signal from early September has been sustained and continues to encourage sellers to increase their positions. The Relative Strength Index (RSI) adds credence to the ongoing downtrend. Its position below the midline emphasizes the bearish grip on ADA. Similarly, the channel’s middle boundary is a key support line that must be defended if Cardano wants to close the gap to the supply zone in red. Otherwise, the least resistance path would keep to the south. Meanwhile, data by IntoTheBlock suggests that sellers have the upper hand. The IOMAP model highlights immense resistance at $2.23 and $2.44. Cracking these zones will not be easy because investors will be trying to break even, thus reducing the effectiveness of the tail force. On the downside, Cardano is sitting on top of relatively weak support areas, which means with a slight push, the token will start exploring the levels below $2. Cardano Intraday Levels Spot rate: $2.15 Trend: Short-bearish bias Volatility: Low Support: $2 Resistance: $2.23 and $2.44
COINBASE:ADAUSDLong
by CoinGape
1
Cardano is heading for a new peak.Cardano is currently in a tame rising state, whereupon it slowly manages to process its longer descending transitions. Cardano is super flexible and it has super much potential when it first seeks the green direction. The approach of the analysis I have drawn up shows strong progressive signs of gradual increases in Cardano's price levels. It regulates between 2.1 to 2.5, subsequently 2.5 to 3.0. There is a probability that the crypto will reach a new height by November. Happy Trading!
Long
by MrBrunoBang-Christensen
4
Cardano essential uptrend!As Cardano investors, you have to be persistent and hold your position until a green solution emerges. We need to be patient and less demanding, the market is red and we need to HOLD! Cardano possesses a red downward trend, which is reversed at a bullish unknown time. After this reversal, some high economic conditions will emerge, which will benefit our green numbers. My best advice is to follow the analysis, and pay attention to the state of the crypto state.
Long
by MrBrunoBang-Christensen
1
😞🎼 ADA CARDANO - Love Requires Patience ⏱️❤️‍🩹Come on ADA, You keep postponing, you keep snoozing, then you become active when we are almost asleep, bored and discouraged. Kind of reminds me of this song: Wake me up when September ends 😞🎼 News/ update: Cardano’s Alonzo upgrade has seen more than 100 ‘smart contracts’ processed in the first 24 hours. The third largest blockchain platform in the world, Cardano’s successful update gives it smart contract functionality, providing developers with the ability to create apps that can utilize the advanced capabilities of its blockchain. The Alonzo upgrade marks the first stage in creator Charles Hoskinson’s plans to advance a fairer global financial system at a reduced monetary and environmental cost. Within 24 hours, the platform has already seen more than 100 smart contracts run on the network, with its first decentralized application also already deployed. Blockchain is set to play a pivotal role in the future of applications. In fact 61% of software developers say blockchain is a ‘game changer’. By building decentralized apps – or ‘dApps’ – on the blockchain, developers minimize the security compromises of traditional apps, which live on a central server, instead utilizing the security of a global network of thousands of computers. However, creating apps on the blockchain has, until now, been inaccessible for many developers, who are faced with high and unpredictable costs, as well as energy inefficiencies. As a result, implementing blockchain for smaller enterprises has often not been a truly viable option without having to compromise on sustainability goals or business costs. Energy efficient Cardano claims to solve many of these issues. Its blockchain uses an innovative mechanism for verifying transactions, meaning the whole network is significantly more energy efficient than Bitcoin. Its ability to accurately predict transaction costs also provides price stability, allowing developers to build applications without risking lost transactions or unexpectedly high costs. This year has been pivotal for IOHK, the engineering company behind Cardano. In April, it announced the world’s largest blockchain deployment. Five million teachers and students in Ethiopia were provided with instantly verifiable IDs, facilitating better lesson planning, monitoring of student progress, and allowing the government to be better sighted of future workforce planning needs and gaps. For students, it also allowed them to share verifiable qualification details with employers. So come on ADA, Just Fly to 4$ now the FXPROFESSOR
Long
by FX_Professor
5