BTC Price Prediction: Today’s Bitcoin Price, 16th Nov 2022
The FTX bankruptcy may be to blame for Bitcoin's (BTC), the most...
After a week of news stories about the FTX controversy that were negative, the Cardano price is about to make a positive breakout. The ninth-largest cryptocurrency on the market experienced drops, testing lower prices around $0.31.
A recovery to $0.4400 will probably start to take shape if buyers can hold the price steady for a few days.
DATE | ADA | USD |
---|---|---|
Today | 01 | 0.334563 |
After printing a bullish candle on the four-hour chart, the price of Cardano is up a slight 1.2% today. As ADA goes north of its primary support at $0.3000, higher support around $0.3300 is anticipated to be helpful.
The bulls’ expanding influence on the price is reinforced by the Stochastic oscillator’s advance from the oversold region (below 30.00) to above the midline. Because of its positive divergence from the price, buyers appear to be in control and prepared to move up the ladder.
Due to a purchase signal that the Moving Average Convergence Divergence (MACD) indicator just issued, the positive outlook for Cardano may continue unabated. For ADA, traders must wait for a four-hour candlestick to settle above the declining trend line at $0.3300 before initiating long trades. Take-profit levels that could be reached on the upside are $0.3700, $0.4100, and $0.4400, respectively.
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