Cardano remains under sellers’ control
ADA Price Analysis – September 27
In case the sellers exert more pressure, the daily candle may close below $0.41 level, Cardano may decrease to $0.38 and $0.34 levels. Should the buyers interrupt the sellers, the bulls’ pressure may increase the price to break up $0.47, the next resistance levels can be found at $0.50, and $0.54 levels
ADA/USD Market
Key Levels:
Resistance levels: $0.47, $0.50, $0.54
Support levels: $0.41, $0.38, $0.34
ADA/USD Long-term Trend: Bearish
Cardano is bearish on the daily chart. The crypto is trading within the descending channel formed in the Cardano market. This pattern indicate that the coin is on bearish trend. The crypto found support at $0.41 level on August 26. The crypto bounced up and commenced a bullish movement. The former resistance level of $0.47 was broken upside and the resistance level of $0.50 was tested. Sellers interrupted the bullish movement with the formation of strong daily bearish candle. The price is ranging within $0.47 and $0.41 levels at the moment.
Cardano is trading around the two dynamic support levels of 9 periods EMA and 21 periods EMA at close which indicate a bearish momentum. In case the sellers exert more pressure, the daily candle may close below $0.41 level, Cardano may decrease to $0.38 and $0.34 levels. Should the buyers interrupt the sellers, the bulls’ pressure may increase the price to break up $0.47, the next resistance levels can be found at $0.50, and $0.54 levels. The technical indicator Relative Strength Index is at 48 levels with the signal line pointing upside which indicates a bullish signal.
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ADA/USD Medium-term Trend: Bearish, OKX lists Tamadoge (TAMA)
Cardano is bearish on 4-hour chart. Last week, the crypto was ranging within $0.47 and $0.41 levels. The coin bounce off from the upper trend line of descending channel formed in the 4-hour chart. The crypto is gradually heading towards the resistance level of $0.47. Strong buyers’ pressure on the 4-hour chart may place the price above $0.47 support level.
The 9 periods EMA is below the 21 periods EMA to indicate that bears are in control of Cardano market. The relative strength index period 14 is pointing upside at 58 levels indicating buy signal.
Stay tuned to the crypto news feed here at InsideBitcoins for more updates on Tamadoge’s first exchange listing as the Sept 27th listing date approaches. The OKX website has announced that TAMA withdrawals will be open at 13:00 UTC on the day of the listing.
Tamadoge – Play to Earn Meme Coin
- Earn TAMA in Battles With Doge Pets
- Capped Supply of 2 Bn, Token Burn
- Presale Raised $19 Million in Under Two Months
- Upcoming ICO on OKX Exchange
