Cardano, the largest encrypted currency through the market value, expects that the average medium intersection will be. The death cross, a declining pattern often indicates a potentially declining direction, is imminent based on the indicators provided on the daily chart.
The death cross occurs when the simple moving average decreased for 50 days (SMA) for the market price of assets to less than 200 days SMA. The simple moving average for 50 days (SMA) appears for Kardano’s instant price on the right track to cross to less than SMA for 200 days in the coming days, the first of this main indicator in 2025.
Currently, the 50 -day SMA of Cardano is $ 0.74 and decreases, indicating a possible intersection with SMA for 200 days at $ 0.734. The affectionate intersection indicates that the short -term momentum, represented by SMA for 50 days, suffers from a lack of long -term medium performance.
Cardano has decreased steadily since reaching levels higher than $ 1.19 on March 2 after the initial announcement of the strategic encryption reserve, with the help of a wider sale in the encryption markets raised by macroeconomic concerns.
At the time of this report, Cardano has been trading by 2.71 % in the past 24 hours to $ 0.647, after recovering for two days in a row after declining on April 2.
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The encryption market slightly reduced in the Saturday session, as investors considered the total economy developments for the week. On Friday, Federal Reserve Chairman Jerome Powell stated that the Federal Reserve faces a “very unconfirmed look”, and thus will wait before more prices in prices.
What next?
While technical indicators such as Death Cross can provide an insight into expected market movements, it may not be reliable predictions. In fact, the graph style reflects the mere nature of price work over the past fifty days. It does not guarantee that future moves may follow in the same direction.
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However, for Cardano, an interesting scenario is seen as it moves after that in relation to the nature of the crossing.
Another happened in November 2024 when Cardano formed a golden cross. The Golden Cross is the opposite of the death of death and indicates a potential bullish momentum. Cardano gathered in the weeks that followed, reaching the highest level in the year $ 1.32 in early December 2024.
The last death cross in May 2024 witnessed a decrease in Cardano to the lowest level of $ 0.277 in the months that followed before entering a unification range.
