Cardano price decreased by -2.30% over the past 24 hours.

Cardano price decreased by -2.30% over the past 24 hours.

Performance after Wednesday 02-Nov
Period Pct Chg Momentum
Wednesday -3.86% -0.0155
Week to-date -3.60% -0.0146
November -3.58% -0.0145

ADA Analysis

Cardano (ADAUSDT) price for the week to-date dropped -3.60% or -0.0146 lower to 0.39100. At time of writing into Thursday’s trading session, Cardano has decreased by -2.30% over the past 24 hours. For the record, ADAUSDT is -87.35% below all-time high of 3.09000. On Wednesday, ADA dropped -3.86% to 0.38560.

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 -3.58% or -0.0145 lower.

What can we expect from Cardano today?

Looking ahead for the day, immediate support level is at 0.37397 (S1) with break below could see further selling pressure towards 0.36233 (S2). For potential buyers, as the current momentum is falling, we prefer to look at firm break of the recent daily high of 0.40930 as an important indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. Cardano need to break on either side to indicate a short-term bias. A close below 0.38000 would indicate selling pressure.

For the week to-date, take note that Cardano is falling as the pair posted lower, down by -3.60%. Prior performance for the week ending 2022-10-30 was 12.01%.

Key levels to watch out:

R3 0.43257
R2 0.42093
R1 0.40327
Daily Pivot 0.39163
S1 0.37397
S2 0.36233
S3 0.34467

Last updated: 01:22 am UTC, 03-Nov 2022

About Cardano

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.

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