Cardano Snaps a 3 Day Down Streak

The Hourly View for Cardano

  • Currently, ADA’s price is down $0 (-0.19%) from the hour prior.
  • This move is a reversal from the hour prior, which saw price move up.
  • If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe.
  • Regarding moving averages, it should first be noted that price has crossed the 20 hour moving average, resulting in them so that price is now turning below it. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

Cardano’s hourly price chart is shown below.

ADA

The Daily View for Cardano

  • Currently, ADA’s price is up $0 (0.09%) from the day prior.
  • This move is a reversal from the day prior, which saw price move down.
  • If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 50 day timeframe.
  • The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
  • Divergence between ADA’s price and its RSI may be manifesting. As such, be on the lookout for trend reversal in ADA’s price.

Below is a daily price chart of Cardano.

ADA

The Latest From ADA’s Blockchain

  • For ADA, its number of daily new addresses is now at 28693.
  • Over the past 29 weeks, the trend for ADA’s count of active addresses has been choppy and unclear. It has oscillated between 0 and 214035.
  • ADA has a count of active addresses of 49419, down 30.66% from its value day prior.