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 July 06, 2024, Cardano is trading at approximately 0.3586 USDT. Let’s dive into the detailed price action for ADA-USDT:
| Metric | Value |
|---|---|
| Open (O) | 0.3501 |
| High (H) | 0.3598 |
| Low (L) | 0.3464 |
| Close (C) | 0.3586 |
| Volume (C) | 55,195,924.70 |
- Open (O): The opening price for today’s trading session was approximately 0.3501 USDT.
- High (H): Cardano reached a daily high of around 0.3598 USDT.
- Low (L): The daily low for ADA-USDT was approximately 0.3464 USDT.
- Close (C): At the time of analysis, Cardano is trading near its daily close of 0.3586 USDT.
| Metric | Value |
|---|---|
| 1D Change (%) | 2.43% |
| 3D Change (%) | -11.87% |
| 7D Change (%) | -6.64% |
| 30D Change (%) | -21.74% |
| 90D Change (%) | -39.14% |
| YTD Change (%) | -39.62% |
Over the past three days, ADAUSDT has dropped by approximately -11.87%, showcasing increased market volatility. Throughout the last week, it continued to decline, with a loss of around -6.64%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with ADAUSDT maintaining a downward trend of approximately -21.74%, despite intermittent fluctuations. Examining the last 90 days, ADAUSDT has witnessed substantial decline of approximately -39.14%, reflecting strong long-term confidence. Year-to-date, ADAUSDT has steadily depreciated by around -39.62%, 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 0.53873.
- Momentum score is -0.13382.
ADA USDT Technical Analysis
Cardano Trading Volume:
The trading volume for Cardano (ADA) over the past 24 hours has been insignificant, with approximately 55,195,924.70 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 38.887. 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.
Receive signals of caution for potential Cardano (ADAUSDT) downturns at 3.59e-01 USDT through bearish technical analysis, accompanied by weakened support and cautionary indicators.
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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.