|Performance after Wednesday 26-Oct|
Cardano (ADAUSDT) price for the week to-date gained 12.10% or 0.0438 higher to 0.40590. At time of writing into Thursday’s trading session, Cardano has increased by 2.14% over the past 24 hours. For the record, ADAUSDT is -86.86% below all-time high of 3.09000. On Wednesday, ADA rose 0.75% to 0.40300.
On the daily timeframe, price is above 9-Day EMA and Stochastic oscillator is rising but in overbought zone, our analysis is that there is bullish momentum and price could continue to go higher.
For the month-to-date, ADA is down by -6.63% or -0.0288 lower.
What can we expect from Cardano today?
Looking ahead for the day, we are looking at 0.41730 or 0.41197 (R1) as important resistance levels and daily low of 0.39450 and 0.39427 (S1) as key support levels. Cardano need to break on either side to indicate a short-term bias. A break above 0.41220 would suggest bullish bias after recent positive movement.
For the week to-date, take note that Cardano is rising and up by 12.10% as the pair continued to trade higher in the past few days. Prior performance for the week ending 2022-10-23 was -2.21%.
Key levels to watch out:
Last updated: 02:50 am UTC, 27-Oct 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.