ADA Slips Below $0.3389 Level, Deeper Downtrend Looming?
Cardano (ADA) has once more dropped below the crucial $0.3389 support level, sparking fears of an extended bearish phase. This level has previously held strong as a line of defense for ADA, but its recent breach suggests that sellers may be gaining the upper hand. With ADA navigating lower levels, investors are left questioning whether this slip could open the door to a deeper downtrend. As bears tighten their grip, this article aims to analyze the recent decline of ADA below the critical $0.3389 support level and evaluate the likelihood of a deeper downtrend unfolding. By exploring....
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Cardano (ADA) is approaching a critical juncture as it eyes a retest of the key $0.3389 support level. In recent trading sessions, ADA‘s price has previously risen above this level and is currently dropping for a second retest thereby raising concerns among investors and traders. A successful defense of the $0.3389 support could signal a potential reversal and renewed bullish momentum, while a breach below this level may open the door to further declines. This article aims to analyze the significance of the $0.3389 support level for Cardano and whether bullish momentum can hold ADA....
Cardano (ADA) is currently experiencing a downward trend, with its price approaching the crucial support level of $0.3389. The cryptocurrency market has been under significant bearish pressure, and ADA is no exception. This decline is fueled by a mix of macroeconomic factors, market sentiment, and technical indicators pointing to continued weakness. As Cardano nears this critical support level, investors and traders are closely monitoring its performance to determine if it can hold the line or if further declines are imminent. The $0.3389 level is now a key focus for the market,....
Bitcoin (BTC) has dropped 11.3% over the past week, currently trading in the low $80,000 range at the time of writing. The recent decline has pushed the leading cryptocurrency below the 200-day moving average (MA), raising concerns about a potential deeper pullback. Bitcoin Must Defend This Key Price Level According to an X post by seasoned crypto analyst Ali Martinez, BTC is now trading below the 200-day MA, a key price level that has historically functioned as a strong support for the top digital asset. Related Reading: Bitcoin Sellers Incur Loss As SOPR Drops To 0.95 – A Sign Of Market....
Darkcoin digs deeper into the red as the price slips from 0.0158BTC to 0.01473BTC in the past 24 hours. Previous lows were violated with the price plummeting to a new low of 0.0143BTC amid the selling pressure. Bulls are caving in to the pessimism and the cryptocurrency may see further downside in the absence of any positive trigger. Upon implementation of the technical analysis on the 240-minute DRK/BTC price chart, it can be concluded that the bearish momentum will only intensify from here on. However, the price decline may not be abrupt but could rather be steady. Chart Structure - Ever....
Bitcoin price could be due for a breakout from the symmetrical triangle consolidation pattern, setting the next trend for price action. The 100 SMA is still below the longer-term 200 SMA so the path of least resistance is to the downside. A candle closing below the $445 level could be enough to confirm that a downtrend is set to take place. The triangle spans $435-465 so the resulting selloff could last by $30 or at least until the triangle lows. Stochastic is on the move down so sellers are in control. RSI is also heading south, indicating the presence of selling pressure. However, if....