Cardano (ADA) Grapples At $0.524; Bullish Trajectory Coming
22 Mai 2022 - 04:29PM
NEWSBTC
Cardano (ADA) prices show that the bulls are trying to overpower
the market to diminish the bearish trend. ADA prices have been
lingering steadily at $0.5, and a rejection strung at $0.628. More
so, there has been a marked price decline of 7% in the market seen
the previous days as the bearish trend takes over. The current
market trading level is now at $0.524, which is pivotal as there
seems to be a power struggle between the bulls and the bears.
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Landslide Continues Support At $0.50; Bulls Try To Up Market Prices
Support has been capped at $0.50, and the bulls are trying to get
the prices to skyrocket. Meanwhile, the bears are not the type to
throw in the towel as they are currently selling at steep prices.
With these price movements, the market is perceived to see more
volatility, especially since the bears and bulls are trying to
outpace and outperform each other. Everyone should keep an eye on
the critical level set at $0.5, wherein a break right below that
trajectory would see prices plunging to as low as $0.45 levels.
However, once it breaks above the price of $0.628, prices would go
to as much as $0.70 levels. Cardano Power Struggle: Bulls Vs. Bears
A 24-hour price analysis of Cardano (ADA) reveals a robust price
battle as the bulls try to take over the market, which is being met
by intense bearish pressure. These opposing forces can elicit
volatile activity seen in the near term as the bulls and bears get
friction to work. The trading volume seen in the ADA/USD pair is
now set at $$398,204,651.10, with the total market capitalization
at roughly $17.69 billion. The pair is currently at position 8 and
overshadowing 1.41 of the other digital assets. Suggested Reading |
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Recovery ADA/USD Pair Can Perform Better This Week Moreover, the
ADA/USD pair is seen to command and conquer with better-performing
figures this week, considering the consolidation period at which
the bulls are getting ready to dominate the market. The bulls and
bears are trying to grip the rope tighter as they struggle to lead
the market. The bulls are back once you see the prices at the
$0.628 resistance level. The prices would need to find the proper
grip or support, likely at the $0.5 level, to prevent further
downturns. Featured image from Solodev, chart from TradingView.com
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