|Performance after Tuesday 01-Nov|
Cardano (ADAUSDT) price for the week to-date dropped -1.45% or -0.0059 lower to 0.39970. At time of writing into Wednesday’s trading session, Cardano has decreased by -1.94% over the past 24 hours. For the record, ADAUSDT is -87.06% below all-time high of 3.09000. On Tuesday, ADA dropped -1.09% to 0.40110.
On the daily timeframe, price is above 9-Day EMA and Stochastic oscillator is falling, our analysis is that bullish momentum could be fading.
End of October, ADA is down by -7.73% or -0.0336 lower.
What can we expect from Cardano today?
Looking ahead for the day, we are looking at 0.41630 or 0.41150 (R1) as important resistance levels and daily low of 0.39850 and 0.39460 (S1) as key support levels. Cardano need to break on either side to indicate a short-term bias. A close below 0.39850 would indicate selling pressure.
For the week to-date, take note that Cardano is falling as the pair posted lower, down by -1.45%. Prior performance for the week ending 2022-10-30 was 12.01%.
Key levels to watch out:
Last updated: 01:50 am UTC, 02-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.