|Performance after Monday 07-Nov|
Cardano (ADAUSDT) price for the week to-date gained 0.25% or 0.001 higher to 0.40310. At time of writing into Tuesday’s trading session, Cardano has decreased by -1.42% over the past 24 hours. For the record, ADAUSDT is -86.95% below all-time high of 3.09000. On Monday, ADA rose 0.50% to 0.40410.
On the daily timeframe, price is below 9-Day EMA and Stochastic oscillator is falling, our analysis is that there could be selling pressure as the outlook looks bearish.
For the month-to-date, ADA is down by -0.59% or -0.0024 lower.
What can we expect from Cardano today?
Looking ahead for the day, we are looking at 0.43100 or 0.41430 (R1) as important resistance levels and daily low of 0.39750 and 0.39570 (S1) as key support levels. Cardano need to break on either side to indicate a short-term bias. A break above 0.41610 would suggest bullish bias after recent positive movement.
For the week to-date, take note that Cardano is rising and up by 0.25% as the pair continued to trade higher in the past few days. Prior performance for the week ending 2022-11-06 was -0.86%.
Key levels to watch out:
Last updated: 01:50 am UTC, 08-Nov 2022
Cardano is a decentralised platform that will allow complex programmable transfers of value in a secure and scalable fashion. It is one of the first blockchains to be built in the highly secure Haskell programming language. Cardano is developing a smart contract platform which seeks to deliver more advanced features than any protocol previously developed. It is the first blockchain platform to evolve out of a scientific philosophy and a research-first driven approach. The development team consists of a large global collective of expert engineers and researchers.