The Cardano Price Prediction 2022 is trading at a loss on Thursday. Markets are trembling as a result of Russia-led military operations in Ukraine. Riskier assets, such as global stocks and cryptocurrencies, took a beating. The Nasdaq fell more than 1%, while the Dow Jones Industrial Average fell 1.5%.
Let’s Examine the Cardano’s Technical Movement:
Cardano Price Prediction 2022
Cardano Blockchain Insights recently reported that wallets for Cardano’s native currency ADA had surpassed the $3 million mark. According to the Electric Capital research report, Cardano’s developer base will nearly double in 2021.
Indicators of Technical Significance:
RSI: The Daily Relative Strength Index (RSI) is 30 and approaching the oversold zone.
MACD: The Moving Average Convergence Divergence (MACD) is trading below the midline, indicating that bearish momentum is fading.
Cardano’s (ADA) price action has been on the decline since hitting a high of $3.09 in September. In today’s session, the price reached an all-time low of $0.74. It has recovered further to the psychological $0.80 level, which may provide some relief to ADA buyers. In the future, it could serve as a dependable support level for the asset.
However, in technical terms, the formation of new highs or lows accompanied by above-average volumes acted as a ‘reversal’ pattern in some cases.
With higher volumes, ADA tested record lows, and a bounce back to 35 percent cannot be ruled out at the critical $1.0 level.
A surge in sell orders, on the other hand, could tip the scales and force ADA to set new all-time lows.
[wpdiscuz-feedback id=”6v69tm4nlf” question=”Please leave a feedback on this” opened=”0″][/wpdiscuz-feedback]Buy Cardano in India At The Best Price
Stay Tuned and Subscribe, for Cardano Price Prediction 2022 Daily Updates.
