Cardano (ADA) Price Analysis: What to Expect in the Next 48 Hours By CoinQuora
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Cardano (ADA) Price Analysis: What to Expect in the Next 48 Hours- ADA starts the week off with double-digit gains.
- ADA experienced a 12.82% gain in the last 24 hours.
- The rally seen with ADA over the last three days may continue over the next 48 hours.
(ADA) is a third-generation, decentralized proof-of-stake (PoS) blockchain platform designed to be a more efficient alternative to proof-of-work (PoW) networks. Scalability, interoperability, and sustainability on PoW networks like are limited by the infrastructure burden of growing costs, energy use, and slow transaction times.
| Instrument | Signal | Probability | Date Range | Open Price | 2% Stop Loss | Entry | Supt 1 | Supt 2 | Supt 3 | RESIS 1 | RESIS 2 | RESIS 3 |
| ADAUSDT | BUY | 60.89 | 2022-06-08, 02:00:00 – 2022-06-10, 02:00:00 | 0.61 | 0.5978 | 0.657600 | 0.575400 | 0.536700 | 0.501900 | 0.648900 | 0.683700 | 0.722400 |
GB Market Analysis Software signals ADA as a buy (Source: GreenBot)
According to the GB Market Analysis Software, the price of ADA will rise in the next 48 hours (2022-06-08, 02:00:00 GMT + 2 – 2022-06-10, 02:00:00 GMT + 2). A confirmation of the signal playing out will be when the price of ADA hits $0.657600. This is also the identified price entry for the trade.
The current support levels for ADA/USDT are $0.575400 (first support level), $0.536700 (second support level), and $0.501900 (third support level). Meanwhile, the current resistance levels for ADA/USDT are $0.648900 (first resistance level), $0.683700 (second resistance level), and $0.722400 (third resistance level).
Cardano (ADA) Price: Current Market Standing
Cardano (ADA) is ranked number 6 in terms of the biggest cryptocurrency by market cap, according to CoinMarketCap. ADA experienced a 24-hour gain of 9.20% to take its price up to $0.6387. This also puts its total market cap at $21,691,331,309.
Whales have been accumulating ADA in anticipation of the upcoming Vasil Hard Fork. This may be a sign of good things to come for the coin. Furthermore, Grayscale has also increased its portfolio allocation for ADA recently.
Cardano (ADA) Price: Technical Overview
9 EMA Crosses Above 20 EMA for ADA (Source:CoinMarketCap)
Looking at the technicals for ADA/USDT, the price of ADA has maintained its position above the 9 and 20 EMA. These lines have been resistance levels for ADA in the bear market. The last five days have also been a mini-rally for ADA with the candle today being the biggest gain for ADA in the rally.
Another key thing to note is that the 9 EMA has crossed above the 20 EMA. This indicates that ADA has entered into a short-term bull cycle. The RSI is also still sloped positively well above the RSI SMA line. This is a good bullish flag.
ADA looks to challenge the first resistance level identified by the GB Market Analysis software at $0.648900. Investors can look to enter into a trade now. However, it may be best to enter a trade once the resistance level is breached. It really depends on individual risk appetite.
Taking into account the signal given by the GB Market Analysis Software, as well as several other factors such as the 9 EMA crossing above the 20 EMA and the RSI sloped positively above the RSI SMA line, we could see ADA continue this rally in the next 48 hours.
Once again, the signal confirmation will be the price of ADA hitting $0.657600 – a level between the first and second resistance levels identified by the software.
Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.
Continue reading on CoinQuora
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Cardano (ADA) Price Analysis: What to Expect in the Next 48 Hours- ADA starts the week off with double-digit gains.
- ADA experienced a 12.82% gain in the last 24 hours.
- The rally seen with ADA over the last three days may continue over the next 48 hours.
(ADA) is a third-generation, decentralized proof-of-stake (PoS) blockchain platform designed to be a more efficient alternative to proof-of-work (PoW) networks. Scalability, interoperability, and sustainability on PoW networks like are limited by the infrastructure burden of growing costs, energy use, and slow transaction times.
| Instrument | Signal | Probability | Date Range | Open Price | 2% Stop Loss | Entry | Supt 1 | Supt 2 | Supt 3 | RESIS 1 | RESIS 2 | RESIS 3 |
| ADAUSDT | BUY | 60.89 | 2022-06-08, 02:00:00 – 2022-06-10, 02:00:00 | 0.61 | 0.5978 | 0.657600 | 0.575400 | 0.536700 | 0.501900 | 0.648900 | 0.683700 | 0.722400 |
GB Market Analysis Software signals ADA as a buy (Source: GreenBot)
According to the GB Market Analysis Software, the price of ADA will rise in the next 48 hours (2022-06-08, 02:00:00 GMT + 2 – 2022-06-10, 02:00:00 GMT + 2). A confirmation of the signal playing out will be when the price of ADA hits $0.657600. This is also the identified price entry for the trade.
The current support levels for ADA/USDT are $0.575400 (first support level), $0.536700 (second support level), and $0.501900 (third support level). Meanwhile, the current resistance levels for ADA/USDT are $0.648900 (first resistance level), $0.683700 (second resistance level), and $0.722400 (third resistance level).
Cardano (ADA) Price: Current Market Standing
Cardano (ADA) is ranked number 6 in terms of the biggest cryptocurrency by market cap, according to CoinMarketCap. ADA experienced a 24-hour gain of 9.20% to take its price up to $0.6387. This also puts its total market cap at $21,691,331,309.
Whales have been accumulating ADA in anticipation of the upcoming Vasil Hard Fork. This may be a sign of good things to come for the coin. Furthermore, Grayscale has also increased its portfolio allocation for ADA recently.
Cardano (ADA) Price: Technical Overview
9 EMA Crosses Above 20 EMA for ADA (Source:CoinMarketCap)
Looking at the technicals for ADA/USDT, the price of ADA has maintained its position above the 9 and 20 EMA. These lines have been resistance levels for ADA in the bear market. The last five days have also been a mini-rally for ADA with the candle today being the biggest gain for ADA in the rally.
Another key thing to note is that the 9 EMA has crossed above the 20 EMA. This indicates that ADA has entered into a short-term bull cycle. The RSI is also still sloped positively well above the RSI SMA line. This is a good bullish flag.
ADA looks to challenge the first resistance level identified by the GB Market Analysis software at $0.648900. Investors can look to enter into a trade now. However, it may be best to enter a trade once the resistance level is breached. It really depends on individual risk appetite.
Taking into account the signal given by the GB Market Analysis Software, as well as several other factors such as the 9 EMA crossing above the 20 EMA and the RSI sloped positively above the RSI SMA line, we could see ADA continue this rally in the next 48 hours.
Once again, the signal confirmation will be the price of ADA hitting $0.657600 – a level between the first and second resistance levels identified by the software.
Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.
Continue reading on CoinQuora
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