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Cardano: The Rise That Followed a Steady Decline

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Over the past seven months, Cardano’s price has shown a beautiful example of consistent decline. Therefore, the high rate of high and low performance of the Cardano price made the coin to reach $ 0.24 recently, registering a 92% loss from 3 all time, $ 1 .It is clear that this continuous decline is reflected by the downward trend connecting the high and the low.

Altcoin has bounced back several times from this trend, showing that the market is getting stronger with this strong resistance.

Key points: The rising ADA price breaks from the regional stability at $0.266, providing further confirmation for an extended session. The 20-day EMA decline provides additional support for traders as they rally.

The intraday trading value of ADA coin is $275.4 billion, showing a gain of 24%. In the recent new year in the crypto market, the price of Cardano returned from a new low of $0.24 and prompted another support.

Over the past ten days, the price of the coin has gained 24% and is currently trading at $0.288. In addition, the rising volume in support of this session points to a near-term recovery. This, if the market conditions continue to run, the altcoin will continue to run for a while and continue to trend in general before resuming its progress. This, the sum can rise 10-12% to revisit the resistance system.

However, although the process mentioned above causes current failure, it is known in technical research that no process lasts forever. Therefore, the withdrawal of the above process will signal the beginning of the revolution. Also, traders on the side waiting for an entry opportunity may also consider buying at a resistance level.

Cardano Art Presentation

Central strength index: The daily RSI slope shows a sharp jump above the central line (50%) indicating an uptrend. Exposure in a positive area increases the likelihood of a stroke. EMA: The descending EMA (20, 50, 100, and 200) performs the same function as the method mentioned above. Each of these EMAs is an important resistance that tries to break the bullish trend. On the other hand, the rising price has recovered the 20-day EMA which is now preparing the traders for a price recovery.

Resistance levels – $0.3 and $0.328.

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