Market Analysis

Cardano [ADA/USD] Technical Analysis: Grizzly attack resumes after short bull run

from Amb Crypto 5 years ago 0 0 663

Ever since volatility crept into the market, all cryptocurrencies have been seeing some action even if it is on the downward spiral. Cardano is suffering the same fate and is down in the dumps with its price at $0.0528 and the market cap barely holding at $1.40 billion, at the time of writing.

1-hour

The Parabolic SAR markers are depicting a bearish trend as the markers have formed above the price candles.

The MACD is showing a strong bearish trend after a bearish crossover due to the fact that the distance between the MACD line and the signal line have further separated from each other.

The Awesome Indicator shows an emerging bullish trend. Since the green spikes have started to form after the red spikes it shows that the prices are increasing.

1-day

The Bollinger Bands are in a state of super-squeeze indicating that the volatility has come down and the price candles are falling below.

The RSI has penetrated the 30 line and successfully reached an oversold zone.

The RVGI shows the same as it is dipping hard to the downside after a bearish crossover.

Conclusion

The one-day chart is painted red and the same is indicated by SAR, MACD, and AO indicators. The one-day depicts the same picture with RSI, RVGI and Bollinger Band showing a bearish trend.