Cardano is Down for the 5th Day in a Row
The Hourly View for Cardano
- At the moment, ADA’s price is down $0 (-0.38%) from the hour prior.
- This is the 2nd hour in a row Cardano has seen its price head down.
- As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe.
- 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.
The Daily View for Cardano
- At the time of this writing, ADA’s price is down $0 (-0.29%) from the day prior.
- Cardano has seen its price go down 5 out of the past 5 days, thus creating some compelling opportunities for bears.
- If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 100 day timeframe.
- The moving averages on the daily 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.
- 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.
The Latest From ADA’s Blockchain
- ADA’s daily large transaction count now stands at 1766.
- Over the past 29 weeks, the trend for ADA’s count of active addresses has been choppy and unclear. It has oscillated between 44095 and 485313.
- ADA has a daily large transaction count of 1766, down 17.36% from its value day prior.
Featured Cardano Idea From TradingView
Below is a trading comment entitled Bitcoin vs Cardano, Ethereum, Solana, SPX, NDX & DJI + Altcoins you may find interesting:
I’ve been looking at the major US indexes (SPX, DJI & NDX), as well as some of the TOP Altcoins within the cryptocurrency market (Ethereum, Cardano, Solana, Polkador), they are all bearish right now on the major/weekly timeframe.This week we saw mentions in the “news” about Bitcoin and the S&P 500 Index detaching… Sounds fishy.Maybe detach over the weekend so we get a surprise dump on Monday…We have a strong downtrend with Bitcoin since November 10 and we were expecting a …