• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • About us
  • Write for us
  • Terms and Conditions
  • Privacy Policy
  • Disclaimer
  • Contact
  • All Posts
  • Advertise

TronWeekly

Crypto World News

  • Home
  • Education
    • Best TRON Wallets
    • Beginner’s guide to TRON
  • Opinion
    • Tron Tokens
    • Market Analysis
  • Industry
    • Tron Exchange
    • Project Review
  • Press Release
  • Advertise
  • About us
    • The Team
    • Editorial Policy
    • Write for us
    • Privacy Policy
    • Disclaimer
    • Terms and Conditions
    • Contact
You are here: Home / News / Altcoin News / Cardano price analysis brings a bearish prediction today, with resistance at $2.175
Cardano price analysis

Cardano price analysis brings a bearish prediction today, with resistance at $2.175

October 19, 2021 by Parth Dubey

Cardano [ADA], ranked today at 4th place in the crypto market, reached a high of $2.157, followed by a low price of $2.118. The market volatility has decreased as the price resistance can be seen at $2.175, which currently remains untethered. The nearest support at $2.115 holds.

Furthermore, the data from Coinmarketcap shows that the trading volume for the past 24 hours had surged by 26.21%, indicating that the buyers are taking advantage of the short-term bearish trend.

Price movement in recent days

The price action for Cardano in the recent period has been hovering between $2-$2.3, indicating low volatility. The price of ADA/USDT rose by 109.73% in the month of August, whereas it fell by 26.21% in the month of September.

Furthermore, the highest price in the last 30 days was $2.46, while the lowest was $1.92. The coin’s highest price remains at $3.1, achieved two months ago.

Cardano price analysis on the basis of technical indicators

The technical indicators on the 1-day chart indicated that the price of the token was progressing towards the lower end of the Bollinger Bands. This means that increased volatility will follow in the short term, and if the support at $2.115 breaks, we might see a breakout from the lower end.

Furthermore, the Cardano price analysis reveals that the current movement is turning bearish as the price action dropped below the 50-day Moving Average.

Cardano price analysis
Cardano price analysis on the chart by TradingView

The RSI indicator on the 1-day chart represents a value below 50 while the gradient is negative. The negative gradient suggests that the selling pressure is increasing.

The MACD indicator currently shows that the histogram is green, but the intensity has decreased, and a bearish crossover might take place in the 1-day chart below.

image 4
Cardano price analysis on the chart by TradingView

Cardano price analysis: Conclusion

Cardano price analysis can be concluded on a bearish note for today, although the price of Bitcoin currently holds strong above $62k. With the news surrounding the approval of Valkyrie Bitcoin futures ETF, the possibilities for new all-time highs for Bitcoin remain strong.

Cardano, a smart contracts platform, has been involved with a lot of projects and is even getting into the NFT industry as well. We can expect higher volatility in the short term.

Filed Under: Altcoin News, News Tagged With: Cardano (ADA), cardano(ada) technical analysis

Primary Sidebar

Recent Posts

  • Litecoin’s Confidential Transactions Lead to Warnings by Korean Exchanges May 24, 2022
  • The Intruder Who Visited Do Kwon’s Home Speaks to the Public May 24, 2022
  • eBay teams up with OneOF to release the first-ever “Genesis” NFT collection May 24, 2022
  • Gafisa, Brazil’s Real Estate Giant Embraces Bitcoin May 24, 2022
  • Crypto Lottery: Winner Takes All May 23, 2022

Footer

News

  • Altcoin News
  • Bitcoin News
  • Blockchain
  • Tron News
  • World

Digest

  • Meet the Founder
  • Price Winning Article
  • DeFi
  • Cyber Security
  • Crypto Scam

Industry

  • Project Review
  • Technology
  • Fintech
  • Tron Exchange
  • New in Town

Tron Universe

  • Event and Tron Parties
  • New in Town
  • Tron Tokens

Follow Us

Subscribe US

Copyright © 2022 · Tron Weekly. All Rights Reserved. NOTE: Tron Weekly is an independent crypto news site that adheres to the strict journalism policy anchored on transparency, trust, and objectivity, we have no affiliation with the TRON Foundation, its founder Justin Sun or any other cryptocurrency firm.