{"id":148499,"date":"2021-12-29T13:27:27","date_gmt":"2021-12-29T13:27:27","guid":{"rendered":"https:\/\/precoinnews.com\/?p=148499"},"modified":"2021-12-29T13:27:27","modified_gmt":"2021-12-29T13:27:27","slug":"cardano-is-stuck-in-a-range-and-continues-to-move-below-the-1-60-high","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/cardano-is-stuck-in-a-range-and-continues-to-move-below-the-1-60-high\/","title":{"rendered":"Cardano is Stuck in a Range and Continues to Move Below the $1.60 High"},"content":{"rendered":"
The price of Cardano has rallied above the previous low of $1.18 from the December 4 plunge. The cryptocurrency consolidated above the previous low for two weeks before moving back up.<\/strong><\/p>\n On December 29, 2021, the price of Cardano (ADA) is stuck between the two moving averages. ADA is above the 21-day moving average, but below the 50-day moving average. <\/p>\n Now if buyers break above the 50-day moving average line, it will signal the resumption of the uptrend. Cardano will rise and regain the previous highs of $1.80 and $2.40. On the other hand, if the bears break below the 21-day moving average line, selling pressure will resume. Cardano will retake the previous low of $1.18.<\/p>\n ADA is at the 49 level of the Relative Strength Index for period 14, indicating that there is a balance between supply and demand. The price bars are above the 21-day moving average but below the 50-day moving averages, indicating that the price may be moving within a range. ADA \/USD is below the 80% area of the Stochastic on the daily chart. The market is in a bearish momentum.<\/p>\n <\/p>\n Key resistance zones: $3.00, $3.50, $4.00 <\/b><\/p>\n <\/b><\/p>\n Key support zones: $2.50, $2.00, $1.50<\/b><\/p>\n Cardano continues to be in a downtrend. The cryptocurrency has reached bearish exhaustion as the market consolidates above $1.18 support. ADA Selling pressure has reached bearish exhaustion. Meanwhile, on September 21, the downtrend; a retracement candlestick tested the 61.8% Fibonacci retracement level. The retracement suggests that ADA will fall to the Fibonacci extension level of 1.618 or the $1.26 level. The price action indicates that the price of ADA has tested the Fibonacci extension and has reversed.<\/p>\n <\/p>\n Disclaimer. This analysis and forecast are the personal opinions of the author are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol. Readers should do their own research before investing funds.<\/span><\/i><\/p>\nCardano (ADA) Price Long Term Forecast: Bearish <\/h2>\n
Cardano (ADA) Indicator Analysis <\/h2>\n
Technical Indicators <\/h3>\n
What is the next move for Cardano (ADA)? <\/h2>\n