Lokesh Gupta
29-04-2024
#Cardano's price is currently trading below the $0.500 resistance zone, suggesting potential bearish momentum.
The 100 SMA (H4) is a critical indicator, indicating a possible decline if $ADA remains below it.
Bullish momentum may trigger a fresh price increase if ADA maintains position above the $0.5000 resistance level.
Recent data reflects a bearish sentiment, with a 3.30% correction within the past day and an 11.95% decline over the past week.
The EMA 200-day acts as a significant resistance level, indicating strong bearish sentiment prevailing in the crypto market.
A Death Cross observed in the Daily time frame implies a bearish outlook for #Cardano in the coming week.
Potential bullish momentum could drive $ADA to test its resistance level at $0.52 during the week.
As per Coingabbar's analysis, Conversely, failure to regain momentum may result in ADA's price testing crucial support levels at $0.440 and $0.400.
KEY LEVELS :
RESISTANCE LEVEL : $0.4800-$0.5200
SUPPORT LEVEL : $0.4200-$0.4000
Disclaimer: Coingabbar's guidance and chart analysis on cryptocurrencies, NFTs, or any other decentralized investments is for informational purposes only. None of it is financial advice. Users are strongly advised to conduct their research, exercise judgement, and be aware of the inherent risks associated with any financial instruments. Coingabbar is not liable for any financial losses. Cryptocurrency and NFT markets could be highly volatile; users should consult financial professionals and assess their risk tolerance before investing.
Lokesh Gupta is a seasoned financial expert with 23 years of experience in Forex, Comex, NSE, MCX, NCDEX, and cryptocurrency markets. Investors have trusted his technical analysis skills so they may negotiate market swings and make wise investment selections. Lokesh merges his deep understanding of the market with his enthusiasm for teaching in his role as Content & Research Lead, producing informative pieces that give investors a leg up. In both conventional and cryptocurrency markets, he is a reliable adviser because of his strategic direction and ability to examine intricate market movements. Dedicated to study, market analysis, and investor education, Lokesh keeps abreast of the always-changing financial scene. His accurate and well-researched observations provide traders and investors with the tools they need to thrive in ever-changing market conditions.
Lokesh Gupta is a seasoned financial expert with 23 years of experience in Forex, Comex, NSE, MCX, NCDEX, and cryptocurrency markets. Investors have trusted his technical analysis skills so they may negotiate market swings and make wise investment selections. Lokesh merges his deep understanding of the market with his enthusiasm for teaching in his role as Content & Research Lead, producing informative pieces that give investors a leg up. In both conventional and cryptocurrency markets, he is a reliable adviser because of his strategic direction and ability to examine intricate market movements. Dedicated to study, market analysis, and investor education, Lokesh keeps abreast of the always-changing financial scene. His accurate and well-researched observations provide traders and investors with the tools they need to thrive in ever-changing market conditions.
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