Brief Cardano (ADA), Lengthy Fantom Crypto (FTM) – Foreign exchange Chief

Cryptocurrencies have been declining since early November as the crackdown on this market continues while central banks have started to turn hawkish, meaning there is less cash in circulation as they tighten monetary policy and therefore invest less in cryptocurrencies. The stock market is down this week as inflation surges while the crypto market has been down since November. But we’ve been seeing increasingly bullish signs, particularly on Fantom, so let’s take a look at how the charts look for Fantom and Cardano.

Fantom Daily Chart Analysis – FTM on track to all-time highs

FTM bounces off MAs again

Certain cryptocurrencies have been showing increasing bullish pressure lately, including Fantom. It rose sharply from August to November and resumed the upward trend after retreating in November. The 200-day SMA (purple) held as support at $1.20-30 and the price surged above $3 in the second half of December. Last week we saw the crypto market slide lower but the moving averages were again held as support and this week the buyers are back in control. Now the price is heading towards the October highs at $3.48 and I am sure that FTM/USD will make fresh highs soon.

We’ve been on FTB/BTC for a long time, which is about to turn almost 300% gains as Fantom has been consistently making gains for about a month while Bitcoin has been mostly bearish. Fantom is a highly scalable Layer 1 blockchain that offers fast and secure transactions. So, interest in this blockchain remains high, which keeps demand for FTM, hence we maintain a bullish bias on this digital coin.

Cardano Daily Chart Analysis – The 50 SMA continues to push ADA lower

Buyers fail to push the ADA back above the 50 SMA

Despite an increasingly thriving ecosystem, Cardano coin ADA remains bearish, also forming lower lows and lower highs. The 50 SMA (yellow) has acted as resistance since October, pushing the price higher after failed pullbacks.

For the past two days we have seen a retracement to the upside as market sentiment improves, but the 50-SMA again rejects the price. Cardano stands out as being the most developed, with more dApps set to go live in the coming weeks/months. DEX Ravendex is another promising development for Cardano – it raises funds via a new method called ISPO.

ADA/USD


Share post on

Sonic BTC is reader-supported. When you buy through links on our site, we may earn an affiliate commission.

Cardano Worth Ready For Final Growth To $ 3.40 Earlier than Revenue Taking – FXStreet Cardano

Cardano Worth Ready For Final Growth To $ 3.40 Earlier than Revenue Taking – FXStreet

Cardano was in a perfect triangle pointing upwards. Buyers jumped in trying to break...

By wpadminsonic164
Solana (SOL), Shiba Inu (SHIB), Cardano (ADA), Avalanche (AVAX) & Polygon (MATIC) – What you must find out about these cryptocurrencies – Analytics Perception Cardano

Solana (SOL), Shiba Inu (SHIB), Cardano (ADA), Avalanche (AVAX) & Polygon (MATIC) – What you must find out about these cryptocurrencies – Analytics Perception

Solana (SOL), Shiba Inu (SHIB), Cardano (ADA), Avalanche (AVAX) & Polygon (MATIC) - What...

By wpadminsonic164
Binance CEO Changpeng Zhao reveals the DeFi hack, Cardano adjustments and Foreign exchange alerts Cardano

Binance CEO Changpeng Zhao reveals the DeFi hack, Cardano adjustments and Foreign exchange alerts

Binance CEO Changpeng Zhao made statements about the DeFi attack that occurred during the...

By wpadminsonic164
Cardano (ADA) supported ‘Djed’ stablecoin guarantees transparency and value stability – CryptoSlate Cardano

Cardano (ADA) supported ‘Djed’ stablecoin guarantees transparency and value stability – CryptoSlate

With the upcoming launch of smart contracts on Cardano, thoughts are turning to its...

By wpadminsonic164
Why I beat the drum of the Cardano Lengthy-Time period Philosophy – Entrepreneur Cardano

Why I beat the drum of the Cardano Lengthy-Time period Philosophy – Entrepreneur

InvestorPlace - Stock News, Stock Advice & Trading Tips Investorplace.com - InvestorPlace Cardano (CCC:ADA-USD)...

By wpadminsonic164
How a lot is an excessive amount of when Cardano’s value motion withdraws – AMBCrypto Information Cardano

How a lot is an excessive amount of when Cardano’s value motion withdraws – AMBCrypto Information

"It has to stop somewhere, doesn't it?" This is the question that most of...

By wpadminsonic164
Cardano worth bullish reversal sample may take ADA in direction of $1.96 – FXStreet Cardano

Cardano worth bullish reversal sample may take ADA in direction of $1.96 – FXStreet

Cardano price has slipped down after breaking above a critical resistance line. A 30%...

By wpadminsonic164
Can Litecoin LTC and Cardano ADA Reverse at $100 and $1?  – FX chief Cardano

Can Litecoin LTC and Cardano ADA Reverse at $100 and $1? – FX chief

Cardano and Litecoin were two of the most bearish cryptocurrencies among the majors. They...

By wpadminsonic164

Latest Posts

Cardano Worth Ready For Final Growth To $ 3.40 Earlier than Revenue Taking – FXStreet Cardano

Cardano Worth Ready For Final Growth To $ 3.40 Earlier than Revenue Taking – FXStreet

Cardano was in a perfect triangle pointing upwards. Buyers jumped in trying to break...

By wpadminsonic164
James Gunn Confirms the Most Highly effective Member of the Suicide Squad is Polka-Dot Man – CBR – Comedian E book Assets Polkadot

James Gunn Confirms the Most Highly effective Member of the Suicide Squad is Polka-Dot Man – CBR – Comedian E book Assets

The director of Suicide Squad, James Gunn, reveals which member of the super villain...

By wpadminsonic164
What does a threat evaluation say about Dogecoin (DOGE) Friday?  – InvestorsObserver Dogecoin

What does a threat evaluation say about Dogecoin (DOGE) Friday? – InvestorsObserver

The InvestorsObserver analysis gives Dogecoin a low risk rating. The proprietary scoring system calculates...

By wpadminsonic164
Solana (SOL), Shiba Inu (SHIB), Cardano (ADA), Avalanche (AVAX) & Polygon (MATIC) – What you must find out about these cryptocurrencies – Analytics Perception Cardano

Solana (SOL), Shiba Inu (SHIB), Cardano (ADA), Avalanche (AVAX) & Polygon (MATIC) – What you must find out about these cryptocurrencies – Analytics Perception

Solana (SOL), Shiba Inu (SHIB), Cardano (ADA), Avalanche (AVAX) & Polygon (MATIC) - What...

By wpadminsonic164
Binance CEO Changpeng Zhao reveals the DeFi hack, Cardano adjustments and Foreign exchange alerts Cardano

Binance CEO Changpeng Zhao reveals the DeFi hack, Cardano adjustments and Foreign exchange alerts

Binance CEO Changpeng Zhao made statements about the DeFi attack that occurred during the...

By wpadminsonic164
Find out how to Purchase Spartan Protocol – Techstory Binance

Find out how to Purchase Spartan Protocol – Techstory

If you want to buy Spartan Protocol (SPARTA), you will need either Bitcoin (BTC)...

By wpadminsonic164
Cardano (ADA) supported ‘Djed’ stablecoin guarantees transparency and value stability – CryptoSlate Cardano

Cardano (ADA) supported ‘Djed’ stablecoin guarantees transparency and value stability – CryptoSlate

With the upcoming launch of smart contracts on Cardano, thoughts are turning to its...

By wpadminsonic164
Microstrategy is shopping for extra Bitcoin and now holds 124,391 BTC Bitcoin

Microstrategy is shopping for extra Bitcoin and now holds 124,391 BTC

Microstrategy, listed on the Nasdaq, has bought more Bitcoin for its corporate coffers. The...

By wpadminsonic164