Cardano (ADA) has decreased from a peak of $ 0.6045 to $ 0.5630 in the past 24 hours, with the original in the battle to sell pressure. The current technical preparation of the original, the golden cross, shows away from being soon.
ADA prices slide with Death Cross continues
according to Coinmarketcap dataCardano is currently changing hands at $ 0.5847, which represents a 2.97 % decrease in the past 24 hours. However, this indicates that Ada has regained some of its losses in previous trading sessions.
Nevertheless, Cardano is witnessing a great pressure for sale from holders looking to reduce losses while continuing fluctuation. The technical index of ASSET’s MA CROSS specifically explains the remnants of the Death Cross formation, where the moving averages remain for 9 days and 21 days widely.
In order for the current setting to turn into a golden cross, Cardano must record great gains to reflect the continuous sales operations in the market.
It is worth noting that ADA must violate the resistance level of $ 0.62 and settle on it to restore its upper momentum. This probably looks, as the trading volume in the Green Zone increased by 65.51 % to 754.16 million dollars in the past 24 hours.
However, if this folder suffers from a sharp drop, Cardano may fade to get a bullish gathering because ADA can re -test $ 0.56 support.
The bullish feelings grow to Cardano despite the technical setback
Despite the current price fluctuations of Cardano, investors in the broader ecosystem shadowly up to the original. According to a recent survey conducted by Theblockchainmedia, 56 % of the respondents were positive that ADA could spread bullish recovery.
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Interestingly, XRP, one of the other assets in the poll, was only able to obtain 20 % of user support. This indicates that the market participants expect the price recovery for ADA.
These positive feelings have supported Cardano in hitting a 110 million transaction teacher recently, while continuing to adopt.
