Cardano Cryptocurrency Forecast
Green day on Saturday for Cardano cryptocurrency after gaining 0.0858%
(Updated on Apr 27, 2024)
The Cardano cryptocurrency price gained 0.0858% on the last trading day (Saturday, 27th Apr 2024), rising from $0.466 to $0.467. During the last trading day the cryptocurrency fluctuated 3.82% from a day low at $0.461 to a day high of $0.479. The price has been going up and down for this period, and there has been a 3.89% gain for the last 2 weeks. Volume fell on the last day by -286 million shares and in total, 35 million shares were bought and sold for approximately $16.20 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The cryptocurrency lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.444 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the cryptocurrency is expected to fall -4.65% during the next 3 months and, with a 90% probability hold a price between $0.423 and $0.725 at the end of this 3-month period.
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ADAUSD Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 4.06%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The cryptocurrency should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Cardano cryptocurrency holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $0.490 and $0.553. A break-up above any of these levels will issue buy signals.
Support, Risk & Stop-loss for Cardano cryptocurrency
Cardano finds support from accumulated volume at $0.466 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This cryptocurrency may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this cryptocurrency is considered to be "high risk". During the last day, the cryptocurrency moved $0.0176 between high and low, or 3.82%. For the last week, the cryptocurrency has had daily average volatility of 5.95%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ADAUSD) For The Upcoming Trading Day Of Sunday 28th
For the upcoming trading day on Sunday, 28th we expect Cardano to open at $0.469, and during the day (based on 14 day Average True Range), to move between $0.425 and $0.509, which gives a possible trading interval of +/-$0.0423 (+/-9.06%) up or down from last closing price. If Cardano takes out the full calculated possible swing range there will be an estimated 18.11% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.466 (0.09%) than the resistance at $0.492 (5.40%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Cardano cryptocurrency A Buy?
Cardano holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this cryptocurrency.
Current score: -1.255 Sell Candidate Unchanged
Predicted Opening Price for Cardano of Sunday, April 28, 2024
| Fair opening price April 28, 2024 | Current price |
|---|---|
| $0.469 ( 0.471%) | $0.467 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ADAUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.487 | 4.24 % | |
| R2 | 0.480 | 2.80 % | ||
| R1 | 0.476 | 1.91 % | ||
| Current price: | 0.467 | |||
| Support | S1 | 0.462 | -0.97 % | |
| S2 | 0.458 | -1.86 % | ||
| S3 | 0.451 | -3.30 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.578 | 23.74 % | |
| R2 | 0.531 | 13.65 % | ||
| R1 | 0.492 | 5.40 % | ||
| Current price | 0.467 | |||
| Support | S1 | 0.466 | -0.0857% | |
| S2 | 0.453 | -3.06% | ||
| S3 | 0.449 | -3.90% |
FAQ
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