Cardano (ADA) Death Cross Spells Worries Despite Bullish “Mary” Fork

ADA price has been struggling against the U.S. dollar in October. Cardano (ADA) has formed a deadly "death cross" on its daily chart against Bitcoin (BTC) — a market signal that's generally seen as a warning of more downside in the near term.The ominously-titled indicator kicks in when an asset's short-term moving average closes below its long-term moving average. In doing so, it calls for technically-minded traders to increase their bearish positions in the market. ADA/BTC in troubleOn Tuesday, ADA's 50-day exponential moving average (50-day EMA; the velvet wave) dropped below its 100-day....

Cardano (ADA) experienced a major downtrend in the past months as the crypto market took another swing for the lows. The sixth cryptocurrency by market cap has seen a year in the green as it managed to complete several upgrades on its mainnet. Related Reading | Biggest Cardano Based Cross-Chain NFT Marketplace Verlux kicks Off Pre-sale First, Cardano successfully transitioned to a Proof-of-Stake consensus in 2020, shortly after the D parameter reached “0” signaling the full decentralization of block production. The network went from a federate consensus to a community-based consensus....

Crypto analyst Colin has revealed that the Bitcoin price has flashed a death cross, which he noted was bullish for the flagship crypto. This comes amid BTC’s recent decline, which has erased all its year-to-date (YTD) gains.  Bitcoin Price Flashes Death Cross, Marking Potential Bottom In an X post, Colin stated that a death cross just flashed for the Bitcoin price, with the “ironically” bullish indicator triggering at the same time that BTC tagged the lower boundary of its megaphone pattern. The analyst noted that this is a bullish setup from this point forward, as the death cross often....

Based on historical tendencies, $22,700 could now mark the next "generational bottom" for Bitcoin, new analysis says. Bitcoin (BTC) may fall more than 40% from last week's bottom, new data warns as one analyst confronts what he says is now a bear market.In a series of tweets on May 20, popular trader and analyst Rekt Capital argued that BTC/USD should dive to near $20,000 to conform to historical norms.Death cross BTC price target now $22,700Much debate has surrounded the so-called "death cross" constructions on the Bitcoin chart. These involve the declining 50-period moving average (50MA)....

There’s an ominous “Death Cross” maturing on the Bitcoin price chart, foretelling a grim outlook for the cryptocurrency soon. The benchmark cryptocurrency has tumbled aggressively after forming a record high near $41,986 (data from Coinbase) on Friday. At its recent low, it was trading at $30,100 but managed to instill hopes of a bullish revival […]