- ADA experienced a 24-hour gain of 2.74% to take its price up to $0.4868.
- The daily chart suggests bears are fighting back to keep ADA’s price below the 9 EMA line.
- The price of ADA may fall in the next 48 hours as the weekend approaches.
Cardano (ADA) is a third-generation, decentralized proof-of-stake (PoS) blockchain platform designed to be a more efficient alternative to proof-of-work (PoW) networks. Scalability, interoperability, and sustainability on PoW networks like Ethereum are limited by the infrastructure burden of growing costs, energy use, and slow transaction times.
|Instrument||Signal||Probability||Date Range||Open Price||2% Stop Loss||Entry||Supt 1||Supt 2||Supt 3||RESIS 1||RESIS 2||RESIS 3|
|ADAUSDT||SELL||56.937%||2022-06-24, 02:00:00 – 2022-06-26, 22:00:00||0.48||0.4896||0.458958||0.463167||0.446333||0.436367||0.489967||0.499933||0.516767|
GB Market Analysis Software signals ADA as a sell (Source: GreenBot)
The GB Market Analysis Software has signaled that the price of ADA may fall in the next 48 hours in the date range (2022-06-24, 02:00:00 GMT + 2 – 2022-06-26, 02:00:00 GMT + 2). The confirmation that the signal is playing out will be when the price of ADA falls to $0.45895833. This is also the identified price entry for the trade.
The support levels for ADA/USDT identified by the GB Market Analysis Software are $0.46316667 (first support), $0.44633333 (second support), and $0.43636667. Meanwhile, the resistance levels for ADA/USDT identified by the software are $0.48996667 (first resistance), $0.49993333 (second resistance), and $0.51676667 (third resistance).
Cardano (ADA) Price: Current Market Standing
Cardano (ADA) is ranked number 6 in terms of the biggest cryptocurrency by market cap, according to CoinMarketCap. The token…