您现在的位置是:Cardano retests key support amid bearish sentiment and testnet concerns >>正文
Cardano retests key support amid bearish sentiment and testnet concerns
上海品茶网 - 夜上海最新论坛社区 - 上海千花论坛5人已围观
简介ADA has dipped 3% in the past day.Reports of a bug in one of Cardano’s testnets likely to dela...
ADA has dipped 3% in the past day.
Reports of a bug in one of Cardano’s testnets likely to delay Vasil upgrade.
Technical indicators are looking bearish below the $0.56 resistance level.
Cardano’s ADA/USD has dropped 3% in the past day, increasing weekly losses to 19%. Its market capitalization is down to $15,218,450,837 with lower trading volumes. ADA trading volumes reduced by 8% to slightly above $650 million in the past day.
The bearish momentum in Cardano is partly linked to the ongoing crypto market correction. Aside from the correction, an important fundamental aspect has shaken the smart contract blockchain. A bug reported in its testnet could delay the anticipated Vasil hard fork.
Cardano’s founder Charles Hoskinson has refuted the claims, which termed the testnet ‘catastrophically broken’. Hoskinson said that the bug had already been solved in a previous update and was not a major issue. He maintains that the concerns could unnecessarily delay the hard fork.
Vasil upgrade is expected to introduce major updates on Cardano. Some benefits include enhanced throughput speed and reduced latency of block transmission. However, there have been multiple delays, with the latest being in July. The delays are causing a subdued performance in ADA, as shown in the daily chart below.
ADA retests $0.4 support
Source: TradingView
According to the technical chart above, ADA has retested the $0.43 support level. The level has been retested several times since mid-May. Overall, the token has remained subdued at under $0.56 for the past three months.
The technical indicators are not looking bullish either. MACD histograms are red, with the trend following lines crossing close to the neutral point. The Stochastic Oscillator is at the lowest point since July 13.
At 11, the momentum indicator is at the oversold zone and could be due for a bounce back. However, with the momentum being bearish, the token must flip $0.56 to welcome any bullish sentiment.
Concluding thoughts
ADA has retested a key support level. The technical and fundamentals are pointing to more bearish pressure. A bullish momentum can only be possible past the $0.56 resistance.
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/795893.html
相关文章
NFT games on brink of overtaking PC games in popularity
Cardano retests key support amid bearish sentiment and testnet concernsKey TakeawaysWithin about a year, NFT games are now on the brink of overtaking PC games in popularit...
阅读更多
Ethereum Classic Price Prediction: ETC seems stable whilst Metacade (MCADE) doesn't stop rising
Cardano retests key support amid bearish sentiment and testnet concernsWeb3 is a constantly expanding industry and crypto price action tends to favour projects that can ad...
阅读更多
eToro cancels Nasdaq listing
Cardano retests key support amid bearish sentiment and testnet concernsAfter hinting at plans to go public before the end of this year, eToro has today announced that it h...
阅读更多
热门文章
- Wrapped Bitcoin Posts A Meteoric Rise Of 900%
- BTC surges past $23,500 as market rally continues
- Consensys Announces Mobile App for Ethereum Wallet MetaMask
- Making DeFi simple: where to buy Yearn.finance
- SEC Wins Lawsuit Against Kik Regarding Securities Offering
- Litecoin (LTC/USD) rallies from a support zone as trading volumes rise
最新文章
$7.8 billion of the $14 crypto crime in 2021 attributed to scams
Baby Doge coin up 131% in 2 weeks as other meme coins bleed: why is it rallying?
Moonbeam up 25%, best places to buy Moonbeam
Here is why today’s biggest gainer in crypto metaverse coins, Avaxtars price surged 117%
$7.8 billion of the $14 crypto crime in 2021 attributed to scams
Weekly Roundup of Cryptocurrency News 22/01/2021