ADA corrects to $0.508 as the downtrend extend
The latest Cardano price analysis confirms a bearish trend for the day as the price experienced a major drop in the past 24-hours. The bearish momentum is growing after a consistent defeat as a bullish wave was occupying the market till 8 June 2022. Currently, the bears are on top as the price moved down to $0.508 during the day. Overall the price has been following a downtrend for the last four days, and the coin’s value has deteriorated to a large extent during this time; the bulls have thus remained unsuccessful in providing a cushion to the crypto pair’s price function.
The one-day Cardano price analysis predicts a downward market trend for the day as the cryptocurrency faced a considerable loss. Today, the bears successfully continued their lead; previously, a constant bullish wave dominated the market at the start of the week. Today, the cryptocurrency value moved down to $0.508, losing 15.72 percent value during the last 24 hours due to the declining trend that is engulfing the market. The moving average (MA) is trading above the price level at $0.584, and the SMA 20 curve is still trading higher than the SMA 50 curve.
The hourly Cardano price analysis is in favor of the sellers, as a downward price movement was observed in the past 12 hours. The price curve has been headed downwards because of heavy selling pressure. This is why the ADA/USD value has been lowered to $0.508, and further downfall is also expected. According to the 4-hour price chart, the moving average value is present at $0.559.
The one-day Cardano price analysis predicts a downward market trend for the day as the cryptocurrency faced a considerable loss. Today, the bears successfully continued their lead; previously, a constant bullish wave dominated the market at the start of the week. Today, the cryptocurrency value moved down to $0.508, losing 15.72 percent value during the last 24 hours due to the declining trend that is engulfing the market. The moving average (MA) is trading above the price level at $0.584, and the SMA 20 curve is still trading higher than the SMA 50 curve.
The hourly Cardano price analysis is in favor of the sellers, as a downward price movement was observed in the past 12 hours. The price curve has been headed downwards because of heavy selling pressure. This is why the ADA/USD value has been lowered to $0.508, and further downfall is also expected. According to the 4-hour price chart, the moving average value is present at $0.559.
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