Cardano’s (ADA) price shows signs of consolidation but the outlook remains negative for the ADA. Cardano finds strong support around $1.03, a historical support level. At the press time, ADA/USD is trading at $1.075, down 2.02% for the day.
- Cardano (ADA) price trades in negative on Tuesday.
- Cardano millionaire whales raised their holdings by 40% in January.
- The ADA price remains unaffected by the data.
Cardano millionaires address accumulation rises says IntoTheBlock
IntoTheBlock, the On-chain analytics firm reported that Cardano millionaire addresses accumulating higher despite the flat price action.
Technically speaking, the Cardano (ADA) has lost more than 50% from ATH at $2.380 made on November 9. The price remained under pressure around the descending trend line from the mentioned level.
Investors find some interesting buying opportunities around the $1.200 demand zone. However, the price failed to cross above the $1.610 horizontal level.
The Daily Relative Strength Index (RSI) momentum oscillator holds near the oversold zone with a probable bearish crossover. This again signifies the lack of bullish enthusiasm among investors.
Cardano tested an all-time low on January 22 at $0.923. Since then price is hovering near the lower levels waiting for a catalyst to decide the further course of price action.
A decisive close above the bearish slopping line will result in meeting the first target at $1.025 followed by the $1.4000.
On the other hand, if the price drops below $1.00 and gives a lower closing then it will open the gates for further lower levels for Cardano in the short term.
- Incoming Shiba Inu Rally? Over 22 Billion SHIB Tokens Burned Across 497 Transactions
- French Luxury Brand Balenciaga To Accept Crypto Payments In U.S.
- PayPal May Soon Accept All Forms Of Crypto Reveals Vice-President
- Crypto Analyst Predicts What Will Kickstart Next Bitcoin Bull Run
- Breaking: S. Korean Exchanges Redflag Litecoin Mimblewimble Update; May Delist LTC
- Just-In: PlanB Reveals Bitcoin S2F Prediction For 2024 Halving
- Heavy Outflows Force Investors to Seek Refuge In Multi-crypto Investment Products
- PlanB: When Will Bitcoin (BTC) Price Cross $500K?
- Case Study: P2E Gaming Projects Tackling The Barriers To Web3 Mass Adoption
- Just-In: Indian Central Bank Head Bashes Crypto After Latest Crash
- Ethereum Price Analysis: Triangle Pattern Foretells Upcoming Rally in ETH
- Zilliqa Price Analysis: Channel Breakout Hints ZIL Price to hit $0.1
- Bitcoin Price Analysis: Trapped Bullish Momentum Need Triangle Breakout
- FTM Price Analysis: Buyers Tease Breakout From Long-Coming Trendline
- GALA Price Analysis: High Momentum Fallout Warns $0.075 Fallout
- Solana Price Prediction 2022: Bulls to drive SOL Price to new Highs?
- Theta Price Prediction 2022 : Analysts Insights into the crucial Reversal levels
- Sandbox Price Prediction 2022 : Analysts Show Optimism Towards The Metaverse SAND Token
- Apecoin Price Prediction 2022 : The future of Web3 and NFTs ?
- Ethereum Classic Price Prediction 2022 : Here’s What to Expect from ETC Price ?