Cardano (ADA), the ninth is the largest encrypted currency depending on the market value, is currently about $ 0.68 as the broader encryption market tests. The big question remains – will Ada maintain its recovery or an additional decline experience?
The encrypted currency market has witnessed the Whipsaw price movement over the past 48 hours. The main cryptocurrencies, including Cardano, have witnessed a moderate increase of 6 % on Tuesday morning. This activity was followed by the price, although Cardano was able to conclude on Tuesday in The Green.
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After it retreated early on Wednesday, the cryptocurrency market recovered slightly, with large encrypted currencies, including Cardano, which belongs to Al -Akhdar where traders and investors saw an opportunity to accumulate at lower prices. The lowest level in Cardano of $ 0.663 has been met with a decrease in purchase, with encryption assets reaching the highest level between $ 0.69 at the time of the press.
What comes after that?
With the stability of the market, traders are now monitoring a continuous momentum to confirm the apostasy and may pay prices up.
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Cardano has been steadily recovered since March 31, when I found support at the lowest level of $ 0.63. If the day is closed in green, Ada may represent his third day of gains from this date. The cryptocurrency still has retired from its last highest levels, but it is still higher than the main support levels.
At the time of the press, ADA has increased by 0.90 % in the past 24 hours to $ 0.683, but a decrease of 7.87 % per week.
The nearest support level is about $ 0.63, and a lower break may send ADA about $ 0.60 or less. On the other hand, ADA must wipe the resistance in its daily averages ranging from 200 and 50 at $ 0.73 and $ 0.75, respectively, to restore the bullish momentum and may target one dollar in the short term.
However, if the pressure pressure increases, ADA can test fewer levels before the purchase interest is found.
