|Performance after Friday 21-Oct|
Cardano (ADAUSDT) price for the week to-date dropped -6.32% or -0.0234 lower to 0.34690. At time of writing into Saturday’s trading session, Cardano has increased by 2.30% over the past 24 hours. For the record, ADAUSDT is -88.77% below all-time high of 3.09000. On Friday, ADA rose 2.65% to 0.34920.
On the daily timeframe, price is below 9-Day EMA and Stochastic oscillator is rising but in oversold zone, our analysis is that the price action might be set for a rebound.
For the month-to-date, ADA is down by -20.20% or -0.0878 lower.
What can we expect from Cardano today?
Looking ahead for the day, we are looking at 0.35570 or 0.35607 (R1) as important resistance levels and daily low of 0.33000 and 0.33617 (S1) as key support levels. Cardano need to break on either side to indicate a short-term bias. A break above 0.34990 would suggest bullish bias after recent positive movement.
For the week to-date, take note that Cardano is falling as the pair posted lower, down by -6.32%. Prior performance for the week ending 2022-10-16 was -12.46%.
Key levels to watch out:
Last updated: 02:50 am UTC, 22-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.