- Cardano token is trading near its strong or vital moving average of 200-day, whereas the volume is also lower.
- Presently, the digital asset is trading below vital moving averages of 20, 50, and 100-DMA, while the token currently holds 200-DMA support.
- The pair of ADA /BTC is trading with a loss of -0.82% at 0.00003724 BTC, and the ratio of ADA /ETH is dealing with slight selling pressure at 0.0006217 ETH with a 24-hour change of -2.22%.
Cardano token price is trading on a bearish note while making lower lows and higher highs patterns. Moreover, the coin now reaches its support zone of 200-DMA, and the volume is also lower. The coin is currently trading below vital moving averages of 20, 50, and 100-DMA, whereas it still holds 200-DMA support.
The coin faces a substantial hurdle of 50 and 100-day moving average, and the volume needs to improve for a positive breakout in the upcoming trading sessions. Support on the lower side is at $1.12 and $1.00, whereas resistance on the higher side is $1.36 and $1.49.
Cardano token is projecting solid bearish momentum at the weekly time frame
Cardano token is projecting solid bearish momentum at the weekly time frame while making lower highs and lower low patterns. Moreover, the technical parameters are gradually indicating a bullish or positive trend in upcoming trading sessions. However, the 4-hour time frame volume is lower, which falls below the average line and needs to improve for a positive breakout. Currently, the coin is trading at $1.17 with an intraday loss of -1.12%, and the volume to market cap ratio is at 0.01976.
Relative Strength Index (bullish): Cardano token price RSI presently indicates a slightly bullish or positive trend over the weekly chart. In contrast, the RSI is heading towards the overbought zone CMP levels at 43.25.
Moving Average Convergence Divergence (bullish) indicates a slightly positive or bullish trend on the daily chart. This is because of the buyer’s signal line (green) over the seller’s line (red).
Support levels: $1.12 and $1.00
Resistance levels: $1.36 and $1.49.