ADA from Cardano recorded a 11 % march during the day on Tuesday after the news erupted that gray investments submitted a request to obtain the first exchange fund (ETF) in the United States.
However, the gathering has proven to be short -term, as the currency has spread the losses today. Ada trades at $ 0.76 at the time of the press, getting rid of 4 % of its last gains over the past 24 hours.
Cardano ETF hopes for driving gains, but there is hunting
On February 10, GrayScale Investments submitted her request to get the first ADA trading box in the United States. As a result, ADA jumped by 11 % on Tuesday, climbing to an increase of $ 0.82.
However, the ETF noise fades, Ada has started getting rid of some of these gains. At the time of the press, the coded currency is traded in the ninth depending on the market value at $ 0.76, indicating a 4 % decrease over the past 24 hours.
It is worth noting that the daily trading volume in ADA has increased amid this low value. Its total is 1.44 billion dollars, after increasing 48 % over the past 24 hours.
When the original price decreases during trading trading, it indicates an increase in the sale pressure, indicating that more traders empty their property. This refers to the volatile and profit feelings between ADA holders, which may lead to further decreases if the sale continues.
Moreover, the negative energy balance of the currency (BOP) confirms the sales between the market participants. At the time of the press, this momentum is at -0.54.
This indicator measures the strength of the asset buyers against its sellers by analyzing price movements during a certain period. The negative BOP value such as this indicates that the sellers control, which means that the ADA declining pressure is strong, and the original is likely to suffer from a declining direction.
ADA price predictions: Will you go down or fell to $ 0.53?
The Ada Double Digit Rang on Tuesday paid its price over the long -term downward trend line. However, re -testing this penetration level can fail, as sales have gained momentum.
If this happens, Ada may decrease to $ 0.70. If this level fails to keep it, the currency can extend to a decrease of about $ 0.53 – the last level was seen on February 3.
On the contrary, increasing accumulation and improving market morale may feed an increase to $ 0.82.
Disintegration
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