- The Cardano coin experiences selling pressure from the higher side while testing the demand zone or the support zone on the lower side.
- The price primarily trades key moving averages of 20, 50, 100 and 200 day lines, with 20 and 50 day lines providing short term support.
- The ADA / BTC pair is trading at 0.00005456 BTC with an intraday loss of -4.84%, and the ADA / ETH ratio is CMP at 0.0008317 ETH with an intraday loss of -3.81%.
Trade view
the Cardano The coin on the monthly chart is showing some signs of weakness as the token faces rejection near the $ 3.00 mark. At the same time, the coin cannot break the $ 3.00 psychological hurdle and is facing a retreat from the higher side.
The ADA token is now moving down towards the support zone from where we can see a rebound in the upcoming trading sessions. Currently, the coin is mostly trading on major moving averages of 20, 50, 100 and 200 day lines. In comparison, the 20- and 50-day lines can be viewed as the primary support lines at the lower levels. Volume activity on the monthly chart is slightly increased but needs to grow further for a good reversal. Support on the lower side is now at $ 2.24 and $ 1.84. At the same time, the resistance on the higher side is around $ 3.00 and $ 3.12.
The Cardano coin projects a slightly bearish trend as the token faces minor rejection
Trade view
It’s on the weekly chart Cardano Coin projects a slightly bearish trend as the token is slightly rejected by the higher levels. The technical parameters also favor the bears in the short-term trading sessions. In addition, the price of the coin is lower and the volume on the weekly chart is lower, which needs to be improved. Currently the Cardano coin is trading at $ 2.63 with a 24 hour loss of -3.89% and the volume to market cap ratio is 0.08022.
Relative Strength Index (CAUTION): Cardano The coin RSI is indicating a cautious trend on the weekly chart but is now moving towards the lower zone. In contrast, the RSI is trading near the oversold zone after falling from the higher CMP levels at 48.
Moving average convergence divergence (CAUTION): This indicates caution on the daily chart with a negative crossover. The seller’s line (orange) overwhelms the buyer’s signal line (blue) without any clear momentum being discernible.
Support levels: $ 2.24 and $ 1.84
Resistance Levels: $ 3.00 and $ 3.12.
![Cardano SPO Column: Hedges Stake Pool [HEDGE] – Cardano Feed](https://sonicbtc.com/wp-content/uploads/2022/07/IMG_InternaSPO-450x172.jpg)
