קאַרדאַנאָ פּרייס אַנאַליסיס: ADA ריטריסיז 18 פּראָצענט, מאַפּאָלע צו נאָכפאָלגן?

TL; DR ברעאַקדאָוון

• Cardano פּרייַז אַנאַליסיס איז בייז הייַנט.
• ADA/USD continued lower overnight.
• Previous resistance at $1.35 is currently tested as support.

Cardano price analysis is bearish today as we expect further downside to follow as the downside momentum is still strong. Likely, ADA/USD will break even lower and test the $1.30 support next.

The market has seen mostly bearish momentum over the last 24 hours. Bitcoin is among the top performers, with a small gain of 0.81 percent, while Ethereum has lost 1.17 percent. Meanwhile, Cardano (ADA) trades with a substantial loss of almost 5 percent.

Cardano price movement in the last 24 hours: Cardano breaks lower, tests $1.35 previous resistance

ADA/USD traded in a range of $1.37 – $1.53, indicating substantial volatility over the last 24 hours. Trading volume has declined by 20.82 percent, totaling $4 billion. Meanwhile, the total market cap trades around $47.8 billion, ranking the coin in 5th place.

ADA/USD 4-hour chart: ADA looks to break even lower?

On the 4-hour chart, we can see slight rejection from the $1.35 mark for the Cardano price, however, bearish momentum should return shortly.

Cardano price action has seen strong bullish momentum over the past weeks. After a new major swing low was set below $1.10 on the 10th of January, ADA/USD saw a strong push higher to $1.35 later last week.

The following retracement set clear higher low above $1.20 before more upside followed. Over the following days, ADA gained over 30 percent and broke past previous swing highs. 

The Cardano price peaked at $1.638 yesterday, meaning a very strong higher high has been set. However, since then, bears have taken over as ADA/USD retraces. Likely we will see some more downside tested before another higher low is set from which to move higher later in the week.

Cardano פּרייס אַנאַליסיס: מסקנא 

Cardano price analysis is bearish today as we saw more downside overnight after a strong rejection of upside. Therefore, ADA/USD should continue to the $1.30 mark next.

בשעת ווארטן פֿאַר Cardano צו מאַך ווייַטער, זען אונדזער אַרטיקלען אויף קאָינבאַסע וואָלט ווס וואַללעט, קאַרדאַנאָ פּרייז פאָרויסזאָגן און קריפּטאָ שטייַער-אָנווער כאַרוואַסטינג.