您现在的位置是:Santiment says Cardano (ADA/USD) sellers are getting exhausted >>正文
Santiment says Cardano (ADA/USD) sellers are getting exhausted
上海品茶网 - 夜上海最新论坛社区 - 上海千花论坛5767人已围观
简介Cardano lost 3.22% on Wednesday to hit the lowest in the year at $0.25Santiment data holds that bear...
Cardano lost 3.22% on Wednesday to hit the lowest in the year at $0.25
Santiment data holds that bears are decreasing in numbers and losing control
ADA price action is extremely bearish, and lower prices are possible
Cardano(ADA/USD) looked headed for a new low on Wednesday as the price lost 3.22% to trade at $0.25. The price was the lowest in the year, with ADA still likely falling further. However, Santiment data could revive hopes, although ADA bulls would be disappointed that the price action isn’t positive.
According to Santiment, ADA sellers are getting exhausted, while the cryptocurrency is “severely undervalued.” As ADA trades on a system of lower lows and lower highs, Santiment points out that there is falling selling power. The insights platform shows that as the token makes one downward movement, fewer coins are marked with a loss on the network. This has been interpreted as the strongest reversal sign as bears are gradually losing power.
Besides, whale accumulation has been on the rise for Cardano in the last six weeks. But as you are too aware, Cardano has seen whale activity for a larger part of 2021. That has been interpreted to mean that whales are attracted to the low valuation of Cardano. However, this does not tell about the short-term price action since whales are believed to accumulate for the longer term.
ADA on a new low as price weakens on a descending channel
ADA/USD Chart by TradingView
On the daily chart, Cardano has maintained the descending channel with limited price surges. The price has mainly traded at the bottom of the descending channel range, indicating that bulls are keeping off. The RSI shows that ADA is currently oversold.
Which way, Cardano?
It could be premature to buy ADA, despite Santiment data suggesting bear exhaustion. There is no clear bullish reversal, and we maintain a downtrend bias. From a technical point of view, a clearance of the descending channel is the needed confirmation for a bullish reversal.
Where to buy ADA
eToro
eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.
Open AccountPlus500
Plus500 is a leading provider of Contracts for Difference (CFDs), delivering Leveraged trading on +2,000 financial instruments, including Forex, Commodities, Indices, Shares, Options and Cryptocurrencies. CySEC license number (#250/14)
Buy ADA with Plus500 today 82% of retail CFD accounts lose money.Tags:
转载:欢迎各位朋友分享到网络,但转载请说明文章出处“上海品茶网 - 夜上海最新论坛社区 - 上海千花论坛”。http://www.jz08.com.cn/news/83756.html
相关文章
Bitcoin Cash price hits 1
Santiment says Cardano (ADA/USD) sellers are getting exhaustedBitcoin Cash price jumped to a 1-year high today when BCH hit $194, up 72% over the week.BCH price b...
阅读更多
Mina (MINA) stages stunning recovery after days in the red
Santiment says Cardano (ADA/USD) sellers are getting exhaustedMina (MINA)has staged a stunning recovery over the last two trading days. The surge was largely trig...
阅读更多
Ethereum Classic (ETC/USD) breaks above descending trendline but exercise caution
Santiment says Cardano (ADA/USD) sellers are getting exhaustedEthereum Classic is up 18% in the weekThe network has witnessed an increased hash rateEthereum Class...
阅读更多
热门文章
- Kazakhstan Generates $700M Investment In Crypto Mining
- Bitcoin could offer a good value for exchange, Ledger CEO projects
- The EU Lines Up New Regulations For Digital Assets
- DWF Labs vote of confidence to the WavesDAO project sends WAVES price up 91%
- The US government steps up its effort to nab criminals in the crypto sector
- CleanSpark to acquire two Bitcoin mining campuses for $9.3M
最新文章
Polkadot (DOT) could still surge despite the recent drop in TVL
How will the rising Binance outflows affect BNB price?
Terra and FTX collapse showed that the crypto industry has not fully established: CoinsPaid CEO
UK's FCA launches a permanent digital sandbox
Harmony (ONE) nears a crucial demand zone – is a bull run finally here?
Solana (SOL) is targeting $100 in the days ahead