The week start of crypto market wasn't good for Cardano ADA, the wave of massive selling. The brief period of recovery of the digital assets is interrupted with prolong period of downtrend with the tenth most valuable virtual asset trading in red. In the bearish period, Cardano has spiked nearly 7% in the last seven days, however, the token has dropped almost 45% in the past one month.
The key support level is at $0.0410 and at the moment, and coin is trading below that level. The MACD suggests that the digital asset is gradually dipping into the bearish territory while the 100 EMA line points to the current stable trend. The hourly RSI indicator is traced at 40.6, which indicates that ADA is marching towards the oversold level in the market due to heightened seller pressure. The total market cap of the virtual currency stands at $1,02 billion at the time of writting, according to CoinMarketCap. At press time, the token has inched down almost 1.82% against the U.S. dollar to trade at $0.0404.
Trade with caution guys.
The key support level is at $0.0410 and at the moment, and coin is trading below that level. The MACD suggests that the digital asset is gradually dipping into the bearish territory while the 100 EMA line points to the current stable trend. The hourly RSI indicator is traced at 40.6, which indicates that ADA is marching towards the oversold level in the market due to heightened seller pressure. The total market cap of the virtual currency stands at $1,02 billion at the time of writting, according to CoinMarketCap. At press time, the token has inched down almost 1.82% against the U.S. dollar to trade at $0.0404.
Trade with caution guys.