In this Cardano technical analysis, we will examine the current price action, trading volume, key levels and indicators for ADA-BTC. Cardano (ADA) is a decentralized, open-source blockchain platform that utilizes proof-of-stake (PoS) consensus and Haskell programming language for smart contracts. Developed by Charles Hoskinson, one of the co-founders of Ethereum, Cardano aims to provide a more secure and scalable platform for decentralized applications compared to its predecessors. With a strong focus on sustainability and regulatory compliance, Cardano has gained significant attention in the cryptocurrency market and is widely recognized as one of the most promising blockchain projects.
Cardano Price Overview:
As of October 02, 2023, Cardano is trading at approximately 1e-05 BTC. Let’s dive into the detailed price action for ADA-BTC:
| Metric | Value |
|---|---|
| Open (O) | 1e-05 |
| High (H) | 1e-05 |
| Low (L) | 1e-05 |
| Close (C) | 1e-05 |
| Volume (C) | 6,492,788.90 |
- Open (O): The opening price for today’s trading session was approximately 1e-05 BTC.
- High (H): Cardano reached a daily high of around 1e-05 BTC.
- Low (L): The daily low for ADA-BTC was approximately 1e-05 BTC.
- Close (C): At the time of analysis, Cardano is trading near its daily close of 1e-05 BTC.
| Metric | Value |
|---|---|
| 1D Change (%) | -1.47% |
| 3D Change (%) | 1.08% |
| 7D Change (%) | 0.21% |
| 30D Change (%) | -5.45% |
| 90D Change (%) | -1.37% |
| YTD Change (%) | -36.94% |
Over the past three days, ADABTC has risen by approximately 1.08%, showcasing increased market volatility. Throughout the last week, it continued to rise, with a gain of around 0.21%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with ADABTC maintaining a downward trend of approximately -5.45%, despite intermittent fluctuations. Examining the last 90 days, ADABTC has witnessed substantial fall of approximately -1.37%, reflecting strong long-term confidence. Year-to-date, ADABTC has steadily depreciated by around -36.94%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.
Cardano Live Chart:
You can access a live price chart for ADA-BTC on various cryptocurrency market websites or trading platforms. These charts provide real-time data, allowing you to track price movements and indicators as they evolve.
Price Volatility and Momentum:
- Volatility score is 0.13487.
- Momentum score is -0.05449.
ADA BTC Technical Analysis
Cardano Trading Volume:
The trading volume for Cardano (ADA) over the past 24 hours has been significant, with approximately 6,492,788.90 BTC traded against ADA. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.
Moving Averages:
- 50-day Simple Moving Average (SMA): ADA is currently trading below the 50-day SMA, indicating short-term bearish momentum.
- 200-day Simple Moving Average (SMA): Cardano is also trading below the 200-day SMA, indicating a negative long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for ADA-BTC is currently in the low zone, around 43.47164. This suggests that Cardano is in bearish territory.
Analysis from TradingView:
Our Key Takeaways:
Cardano (ADA-BTC) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the BTC monthly resistance level and the BTC support level for potential trading opportunities. Additionally, the low RSI and significant trading volume are low signals for potential downward movement.
Disclaimer: The information provided herein, including any technical analysis of cryptocurrencies, is for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy, sell, or hold any cryptocurrency or make any financial decisions.
Cryptocurrency markets are highly volatile and speculative. Past performance is not indicative of future results, and there are no guarantees of profit or protection against losses. Cryptocurrency investments are subject to significant risks, including but not limited to market fluctuations, regulatory changes, and technological vulnerabilities.
Technical analysis involves the use of historical price and volume data, patterns, and indicators to make predictions about future price movements. It is a subjective and speculative approach to market analysis and should not be the sole basis for making investment decisions.
