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What to Expect in the Next 48 Hours

What to Expect in the Next 48 Hours
  • 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.

InstrumentSignalProbabilityDate RangeOpen Price2% Stop LossEntrySupt 1Supt 2Supt 3RESIS 1RESIS 2RESIS 3
ADAUSDTSELL56.937%2022-06-24, 02:00:00 – 2022-06-26, 22:00:000.480.48960.4589580.4631670.4463330.4363670.4899670.4999330.516767

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.

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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…

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