CoinInsight360.com logo CoinInsight360.com logo
A company that is changing the way the world mines bitcoin

WallStreet Forex Robot 3.0
NullTx 2025-02-01 20:31:02

CARDANO PRICE ANALYSIS & PREDICTION (February 1) – ADA May Experience Broad Correction if This Support Cracks

Unlike many mid-cap altcoins, Cardano’s ADA is still within a buying range despite posting notable losses in the past weeks. It now trades near a crucial support, where the next market phase will be determined. ADA’s market structure remains weak due to a steady reduction in the past months. This suggests a strong bearish presence while undergoing a deep correction daily. Still, its mid-term bullish trajectory remains intact. However, the crucial $0.8 level has been standing as support since it initiated drops two months ago. Technically, things are likely to get uglier soon following the new sell order building up from the $1 level. As we can see on the daily chart, ADA has been gathering volatility for almost two weeks, subjecting trading to choppy price actions. Due to this, we may see a crash. The key target level to watch would be $0.4. Currently, the selling pressure is low due to a lack of interest from the bears’ side but we can anticipate a major move when they show strong commitment. That should trigger a heavy supply in the market. The only condition for a bullish move right now lies in a rebound. If the mentioned crucial level continues to provide support, we can consider an upward movement with a double-bottom pattern. As it stands, the bears are most likely to have an upper hand in the near term. ADA’s Key Levels to Watch Source: Tradingview Breaking down the holding $0.86 support could cause a serious sell-off to $0.765 and $0.65 before reaching the mentioned key target level. If ADA continues to hold the mentioned level well, we may see a bounce back to $0.988. Retaking January’s $1.152 high should send us to the $1.32 resistance with a potential break up to $1.5. Key Resistance Levels: $0.988, $1.152, $1.32 Key Support Levels: $0.86, $0.765, $0.69 Price: $0.93 Trend: Bearish Volatility: Moderate Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news ! Image Source: angrysun/ 123RF // Image Effects by Colorcinch

Leggi la dichiarazione di non responsabilità : Tutti i contenuti forniti nel nostro sito Web, i siti con collegamento ipertestuale, le applicazioni associate, i forum, i blog, gli account dei social media e altre piattaforme ("Sito") sono solo per le vostre informazioni generali, procurati da fonti di terze parti. Non rilasciamo alcuna garanzia di alcun tipo in relazione al nostro contenuto, incluso ma non limitato a accuratezza e aggiornamento. Nessuna parte del contenuto che forniamo costituisce consulenza finanziaria, consulenza legale o qualsiasi altra forma di consulenza intesa per la vostra specifica dipendenza per qualsiasi scopo. Qualsiasi uso o affidamento sui nostri contenuti è esclusivamente a proprio rischio e discrezione. Devi condurre la tua ricerca, rivedere, analizzare e verificare i nostri contenuti prima di fare affidamento su di essi. Il trading è un'attività altamente rischiosa che può portare a perdite importanti, pertanto si prega di consultare il proprio consulente finanziario prima di prendere qualsiasi decisione. Nessun contenuto sul nostro sito è pensato per essere una sollecitazione o un'offerta