Cardano price analysis is showing bullish signs as the market is showing bearish momentum. The bears have completely regained control of the Cardano market which will turn the market direction for the worse and the ADA now expects a full bearish period to occur in the next few days. However, the bull will do whatever it takes to regain control.
The market showed that the price of Cardano fell to as low as $0.457 yesterday but soon rose to $0.4646. Cardano continues a massive downtrend. However, the price of Cardano fell again to $0.45 the following day, September 17, 2022.
As of September 16, 2022, ADA is currently trading at $0.458; ADA is down 2.80% in the last 24 hours with trading volume of $506,842,513 and an immediate market cap of $15,699,822,132. ADA is currently ranked 8th in the cryptocurrency rankings.
ADA/USD 4 hour price analysis
Cardano’s 4-hour price analysis shows that the current state of the market shows a positive potential should the price move lower. In addition, market volatility follows a downtrend, making cryptocurrencies less susceptible to volatile swings at both extremes.
As a result, the upper limit of the Bollinger Band is at $0.4831 and serves as the strongest resistance for ADA. In contrast, the lower limit of the Bollinger Band is $0.4577 and serves as a support point for ADA.
The price of ADA/USD is trading below the moving average curve, which indicates that the market is in an uptrend. However, with the market showing low volatility today, the Cardano price has far less room to move to either extreme. Moreover, the price of ADA/USD seems to be in a downtrend, suggesting a bear market with further bearish momentum.
Cardano’s price analysis shows that the Relative Strength Index (RSI) stands at 33, pushing the cryptocurrency into undervalued territory. In addition, the RSI score is likely to fall, indicating that selling activity is dominating on the path to stability.
Cardano price analysis for 1 day
Cardano’s one-day price analysis has seen a downward movement over the past few days. However, volatility is increasing. When volatility is exposed, it makes the value of cryptocurrencies more volatile.
As a result, the upper limit of the Bollinger Band is at $0.52 and serves as the main resistance for ADA. In contrast, the lower limit of the Bollinger Band is $0.42 and serves as a support point for ADA.
The ADA/USD price seems to be crossing the moving average curve, indicating bearish momentum. However, support and resistance opened, indicating increased volatility with plenty of room for further activity at both extremes. Therefore, the price is moving upwards in the direction of the rising property.
The result of the Relative Strength Index (RSI) appears to be 44, indicating the cryptocurrency’s stable value. It fell in the neutral zone lower.
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However, the RSI results are following a bearish move, signaling a bear market and suggesting bearish momentum. Furthermore, the falling RSI score indicates that sales activity is dominant.
Conclusion of Cardano price analysis
The conclusion of Cardano’s price analysis shows that the value of the cryptocurrency is falling. ADA/USD is about to enter full bearish dominance, lowering Cardano’s price over time. Bears are expected to be in control; If the market moves towards stability, the bulls will have a significant opportunity to support the market and lower the value of Cardano.