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Cardano / TetherUS PERPETUAL CONTRACT

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ADAUSDT.P trade ideas

ADA's Descending ChannelCardano has exited the bottom of its trading range and entered a downtrend. This inference is made from the formation of lower highs and lows compared to previous ones, as well as the formation of a descending channel. Additionally, it is expected that the price within this channel will experience fluctuations. The blue box area is considered as a significant and credible support. If the price falls below this area and stabilizes under it, a considerable drop in ADA's price is expected. On the other hand, if this support area is maintained and an upward pattern is observed, it could indicate the potential for minor price growth up to the channel's ceiling. In conclusion, Cardano is generally in a bearish phase, but with the preservation of the key support area, there is a possibility for temporary growth.
by MonoCoinSignal
✴️ Cardano, Top Or No Top?Look at the difference between these two patterns: 1) The first one showed up late Nov/early Dec and is a bullish pattern, a triangle as continuation. 2) The second is current and is a bearish pattern, a rounded top. Cardano (ADAUSDT) grew by 209% within 5-6 months. While many people are ready for mORE, a correction can develop here without problem but there can also be additional growth. The volume behaviour supports additional growth as it continued to rise all through December 9. The top pattern though is bearish and the RSI trending lower as well, so we have some mixed signals. Currently, prices trade below EMA10 but this has not being confirmed yet. When we look around, many pairs are bearish and also closed below EMA10/EMA21, closed bearish weekly, peaked and some are trading several levels lower already. Since the market is connected, we can expect Cardano to follow the same pattern even if it produces a last jump. Think of Avalanche (AVAX), Tellor (TRB) and Injective Protocol (INJ). You can see them producing one final jump just to enter their corrective phase. Still not sure? That's ok! Just be cautious and prepare for all scenarios... Prepare for the worst, hope for the best. The correction should be short-lived lasting at maximum a few months. Once the correction is over, we get major bullish growth. Namaste.
Short
by AlanSantana
15
Can Cardano (ADA) Return to Its Upward Trajectory?CRYPTOCAP:ADA , like many other altcoins, is currently in a downward trend. The asset has recently broken through another support level, reaching a local low of $0.450. Given its strong correlation with CRYPTOCAP:BTC , a further decline in CRYPTOCAP:ADA appears likely. Potential support levels for sellers might be found at $0.430 and in the range of $0.398–$0.417. For a reversal of this downward trend, BTC needs to stabilize above the resistance level of $42,000, which could positively influence altcoins, including Cardano ( CRYPTOCAP:ADA ). In such a scenario, CRYPTOCAP:ADA might test resistance zones at $0.471–$0.486 and $0.517–$0.536, possibly signaling a return to an upward trajectory.
Short
by DEXWireNews
Support and resistance levels ADASupport and resistance levels are clearly visible, with a strong support zone around $0.4126, where the price has bounced several times. Resistance can be found around the $0.5591 level, where ADA has tested and retreated, indicating that the bulls are still struggling to break through convincingly Recently, there has been a notable increase in activity among whales in the Cardano network, with several statistics pointing to increased movement by large holders of ADA. This sudden activity may indicate various market behaviors, including possible accumulation, redistribution or even preparation for major network developments. Let's analyze the data and look at the corresponding price chart to gain deeper insight into ADA market dynamics. First, the number of large transactions increased, with a whopping 6,980 transactions in the past 24 hours. This is a significant increase compared to the lowest point in the past seven days, which was 5,005. The significance of this statistic lies in its connection with the confidence of large holders and their willingness to potentially reposition their holdings, perhaps in anticipation of market movements. As for the volume of these trades, we have observed a significant volume of 26.9 billion ADA over the past 24 hours, slightly lower than the highest point of the past seven days of 29.4 billion ADA. Such high volumes are often a harbinger of price volatility, as they represent significant liquidity movements that can stabilize or destabilize current price levels.
by EDUCASH247