CARDANO Price Analysis: RSI indicator suggests neutral action, SMA-200 is below SMA-20 in ADA

  • ADA brings a new change in technology that is to challenge an old and activate a new age of sustainability.
  • The token has shown the pattern of bullish Doji star in the last 24 hours.
  • The RSI oscillator for ADA shows the NEUTRAL action.

The token has the circulating supply of 32,065,798,120 ADA coins and a max. supply of 45,000,000,000 ADA coins. The last known price of the token, ADA, is 1.28300 and is up by 0.24% over the last 24 hours. It has the current trading volume’s of 1,740,272,156 with a low of 12.55% over the last 24 hours. ADA has holders with 133,308 addresses and the active addresses of 2,142,914 in the last 24 hours.

The chart above shows the movement of ADA where 200 DMA has been running above it and even DMA-50 was above it until 28 July and 27 July respectively. We see the token with respect to SMA’s which are 20, 50 and 200 and it is SMA-20 which is above one(SMA-200) SMA and also above the other(SMA-50). We see a downward pattern under the trendline marked first and then an upward pattern marked under the latest trendline.

When SMA-20 trailed below SMA-50 we saw a downtrend and when SMA-50 went below, an uptrend continued. In today’s scenario SMA-20 is gaining support from SMA-50 and it is expected that SMA-20 would move beyond for a day until it sinks.

Its top 10 and 20 holders have more than 65% holdings and top 50 and 100 have more than 70% which makes the strong supply side of the coin.

An RSI oscillator is also present in the chart which shows the proper time to buy or sell the token. RSI for the last 5 hours shows the value of 50.66 and marks the neutral action. MA-5, MA-10 shows the buy action whereas MA-20 shows the sell action. Even MA-100 and MA-200 show the same buy action. However, the ADA at present is all set to buy but for intraday session.

The bull/bear power has the value of -0.0033 and shows the sell action. The high/low marks the neutral action with the value of 0.0000.

The ADA-BTC pair is trailing at the level of 0.0000319 and the low of 0.52% was seen whereas the ADA-ETH pair is trailing at the level of 0.000564 and the gain of 0.34% was seen in the last 24 hours. The volume/market cap of the token is 0.04212 and its market dominance is 2.65%.

Conclusion: The days range for the coin is 1.256000-1.320000 and presently is at 1.281900. The 24 hours high and low of the coin is 1.32 and 1.26 respectively. ATH of ADA is 2.46 on March 2021 and ATL is 0.01735 on 1 Oct 2017. ROI (approximate return on investment if purchased at the time of launch) of ADA is 2799.41. We observed that candles are reaching above SMA-200 and so you can sell it, if attained decent returns or buy it if intraday trading you wish to do.

Technical Instruments:

Pivot: 1.272

R-1: 1.2797

R-2: 1.2841

S-1: 1.2654

S-2: 1.2610

Note:

  • The unit is USD
  • SMA-20: Green colour
  • SMA-50: Red colour
  • SMA-200: Blue colour

News Source