ADA USDT Cardano Technical Analysis

Photo of author

By Frans van Elst

Cardano logo In this Cardano technical analysis, we will examine the current price action, trading volume, key levels and indicators for ADA-USDT. Cardano (ADA) is a decentralized public blockchain and cryptocurrency that focuses on providing a more secure and scalable platform for the development of decentralized applications (dApps). With its proof-of-stake consensus algorithm, Cardano aims to provide a more energy-efficient and accessible blockchain ecosystem. Additionally, Cardano’s use of a treasury system allows for community-driven funding and governance, ensuring that the project remains responsive to the needs of its users.

Cardano Price Overview:

As of May 08, 2024, Cardano is trading at approximately 0.4607 USDT. Let’s dive into the detailed price action for ADA-USDT:

Embrace upward trends for Cardano (ADAUSDT) at 4.61e-01 USDT as bullish technical analysis confirms robust support and promising indicators.

Metric Value
Open (O) 0.4413
High (H) 0.461
Low (L) 0.4363
Close (C) 0.4607
Volume (C) 79,959,179.70
  • Open (O): The opening price for today’s trading session was approximately 0.4413 USDT.
  • High (H): Cardano reached a daily high of around 0.461 USDT.
  • Low (L): The daily low for ADA-USDT was approximately 0.4363 USDT.
  • Close (C): At the time of analysis, Cardano is trading near its daily close of 0.4607 USDT.
Metric Value
1D Change (%) 4.37%
3D Change (%) 0.59%
7D Change (%) 2.36%
30D Change (%) -24.93%
90D Change (%) -13.14%
YTD Change (%) -22.43%

Over the past three days, ADAUSDT has risen by approximately 0.59%, showcasing increased market volatility. Throughout the last week, it continued to increase, with a gain of around 2.36%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with ADAUSDT maintaining a downward trend of approximately -24.93%, despite intermittent fluctuations. Examining the last 90 days, ADAUSDT has witnessed substantial drop of approximately -13.14%, reflecting strong long-term confidence. Year-to-date, ADAUSDT has steadily declined by around -22.43%, 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-USDT 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 0.49462.
  • Momentum score is 0.03761.

ADA USDT Technical Analysis

Cardano Trading Volume:

The trading volume for Cardano (ADA) over the past 24 hours has been insignificant, with approximately 79,959,179.70 USDT 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-USDT is currently in the low zone, around 42.79251. This suggests that Cardano is in bearish territory.

Analysis from TradingView:

Our Key Takeaways:

Cardano (ADA-USDT) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the USDT monthly resistance level and the USDT support level for potential trading opportunities. Additionally, the low RSI and insignificant trading volume are low signals for potential downward movement.

Embrace upward trends for Cardano (ADAUSDT) at 4.61e-01 USDT as bullish technical analysis confirms robust support and promising indicators.

Discover even more by checking out our comprehensive analysis on ADA BTC Cardano Technical Analysis — a perfect follow-up if you enjoyed this post.

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.

You have not selected any currencies to display