• About
  • Contact Us
Friday, July 1, 2022
Cryptos Newz
No Result
View All Result
  • Home
  • News

    Breaking: Boeing Is Said Close To Issuing 737 Max Warning After Crash

    BREAKING: 189 people on downed Lion Air flight, ministry says

    Crashed Lion Air Jet Had Faulty Speed Readings on Last 4 Flights

    Police Officers From The K9 Unit During A Operation To Find Victims

    People Tiring of Demonstration, Except Protesters in Jakarta

    Limited underwater visibility hampers search for flight JT610

    Trending Tags

    • Commentary
    • Featured
    • Event
    • Editorial
    • Altcoin News
    • Bitcoin News
    • Blockchain News
    • Cryptocurrency News
    • Ethereum News
    • Business
  • How To Buy Crypto
  • Write For Us
  • Press Release
  • Legal Information
    • Affiliate Disclosure
    • DMCA Compliance
    • Privacy Policy
    • Contact Us
  • Home
  • News

    Breaking: Boeing Is Said Close To Issuing 737 Max Warning After Crash

    BREAKING: 189 people on downed Lion Air flight, ministry says

    Crashed Lion Air Jet Had Faulty Speed Readings on Last 4 Flights

    Police Officers From The K9 Unit During A Operation To Find Victims

    People Tiring of Demonstration, Except Protesters in Jakarta

    Limited underwater visibility hampers search for flight JT610

    Trending Tags

    • Commentary
    • Featured
    • Event
    • Editorial
    • Altcoin News
    • Bitcoin News
    • Blockchain News
    • Cryptocurrency News
    • Ethereum News
    • Business
  • How To Buy Crypto
  • Write For Us
  • Press Release
  • Legal Information
    • Affiliate Disclosure
    • DMCA Compliance
    • Privacy Policy
    • Contact Us
No Result
View All Result
Cryptos Newz
No Result
View All Result
Home Cryptocurrency News

Cardano Could Retrace Before Higher Highs

Crptoz by Crptoz
June 9, 2022
in Cryptocurrency News
0
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

READ ALSO

Voorhees Slams “Gross” Bukele Fans as El Salvador Buys Bitcoin Dip

BlockchainCom and Deribit Seek 3AC’s Liquidation From a British Virgin Islands Court


key takeaways

  • Cardano is up almost 25% in the past week.
  • Bullish momentum is building ahead of Cardano’s Vasil hard fork.
  • Nevertheless, technical indicators suggest that ADA may retest before printing a new local high.

Share this article

Cardano is bound to increase profit-taking as it struggles to slice through tight resistance. Still, any potential corrections could be short-lived as speculation builds around the upcoming Vasil hard fork.

Cardano mounts a strong resistance

Cardano appears to be enjoying significant uptrend as the network nears the anticipated Vasil hard fork.

Cardano, the development firm behind IOHK, revealed that it successfully delivered a new node release for the upcoming upgrade. With the final testing process underway, the team of developers is assessing whether to release Vasil on the Cardano testnet. The goal is to “ensure that any changes do not adversely affect functionality for dApps already on the network.”

ADA is up almost 25% over the past week as it enters a final phase before the hard fork. It declined from a low of $0.54 on June 3 to a high of $0.66 yesterday. Now, it appears that Cardano may be bound for a brief correction before resuming its uptrend.

On the 12-hours chart, the 100 hourly moving average could act as a tight resistance to stop ADA from moving further. Meanwhile, the Tom DeMark (TD) Sequential Indicator is presenting a sell signal in the form of a green nine candlestick. Bearish formation expects one to four candlestick correction.

An increase in sell orders that pushed Cardano below $0.63 could serve as the first sign of validation of this bearish thesis. Falling below such critical support levels may encourage investors to book profits, which could add to the downside pressure. If this happens, ADA will drop by another 10% to $0.55.

cardano price chart
ADA/USD 12 hour chart. Source: TradingView

Although the prospects appear to be in the bearish favor, Cardano will have a chance to invalidate the pessimistic outlook by cutting the 100 hourly SMA. Moving beyond this level and printing the 12 hourly candlestick above $0.69 could make ADA more likely to push towards $0.82.

Disclosure: At the time of writing, the author of this article holds BTC and ETH.

For more major market trends, subscribe to our YouTube channel and receive weekly updates from our leading Bitcoin analyst Nathan Bacheler.

https://www.youtube.com/watch?v=+lastest

Share this article

Information obtained on or through this website is obtained from independent sources that we believe to be accurate and reliable, but Decentral Media, Inc. makes no representations or warranties about the timeliness, completeness, or accuracy of any information on or through this website. , Decentral Media, Inc. is not an investment advisor. We do not provide personal investment advice or other financial advice. Information on this website is subject to change without notice. Some or all of the information on this website may be out of date, or it may or may not be incomplete or inaccurate. We are not obligated to, but are not obligated to, update any outdated, incomplete or incorrect information.

You should never make an investment decision on ICOs, IEOs, or other investments based on the information on this website, and you should not interpret or otherwise rely on any information on this website as investment advice. We strongly recommend that you consult with a licensed investment advisor or other qualified financial professional if you are seeking investment advice on ICO, IEO, or other investments. We do not accept compensation in any form for the analysis or reporting of any ICO, IEO, cryptocurrency, currency, token sale, securities, or commodity.

View full terms and conditions.


Related Posts

Cryptocurrency News

Voorhees Slams “Gross” Bukele Fans as El Salvador Buys Bitcoin Dip

July 1, 2022
Cryptocurrency News

BlockchainCom and Deribit Seek 3AC’s Liquidation From a British Virgin Islands Court

July 1, 2022
Cryptocurrency News

Mark Cuban Claims Bear Market Will End After Crypto-Apps Become Handy

July 1, 2022
Cryptocurrency News

El Salvador Buys BTC Dip Again, Here’s How Much Has Been Gained in Last Few Hours

July 1, 2022
Cryptocurrency News

XRP Network Shows Strange Activity Explosion, With Number of Unique Addresses Reaching Max in 2.5 Years

July 1, 2022
Cryptocurrency News

Crypto Lender Ledn Joins the Acquisition Battle for BlockFi (Report)

July 1, 2022
Next Post

Tether Launches Stablecoin on Tezos to Unlock New DeFi Products - Decrypt

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

POPULAR NEWS

Man Who Broke into Terra Founder’s House Was Crypto Investor Who Lost 3 Billion Won

May 16, 2022

When SHIB? Robinhood CBO States They Seek Compliant Ways to Increase Crypto Offering

February 9, 2022

Dock Launches Ambassador Program – Press release Bitcoin News

January 17, 2022

Why You Should Stack Sats To Celebrate Father’s Day

June 19, 2022

Ted Cruz: Texas Should Be “Ground Zero” for Crypto Industry

March 3, 2022

EDITOR'S PICK

Zilliqa (ZIL) Price Analysis for April 1

April 1, 2022

Pocket Network Adds Abundant Bandwidth to Fantom Blockchain

May 2, 2022

Coinlocally Forms New Partnerships on its Way to Release a Decentralized Bank

May 11, 2022

Bitpanda announces layoffs citing no compromise on product quality

June 25, 2022

About

We bring you the best Premium WordPress Themes that perfect for news, magazine, personal blog, etc. Check our landing page for details.

Follow us

Categories

  • Altcoin News
  • Bitcoin News
  • Blockchain News
  • Business
  • Cryptocurrency News
  • Ethereum News
  • How To Buy Crypto
  • News
  • Uncategorized

Recent Posts

  • Mastercard Report: 51% of Survey Respondents Have Completed a Cryptocurrency Transaction in Latam – Bitcoin News
  • Voorhees Slams “Gross” Bukele Fans as El Salvador Buys Bitcoin Dip
  • BlockchainCom and Deribit Seek 3AC’s Liquidation From a British Virgin Islands Court
  • Mark Cuban Claims Bear Market Will End After Crypto-Apps Become Handy
  • Home
  • News
  • How To Buy Crypto
  • Write For Us
  • Press Release
  • Legal Information

© 2022 CryptosNewz - Premium Cryptocurrency News Blog CryptosNewz.

No Result
View All Result
  • Home
  • News
    • Altcoin News
    • Bitcoin News
    • Blockchain News
    • Cryptocurrency News
    • Ethereum News
    • Business
  • How To Buy Crypto
  • Write For Us
  • Press Release
  • Legal Information
    • Affiliate Disclosure
    • DMCA Compliance
    • Privacy Policy
    • Contact Us

© 2022 CryptosNewz - Premium Cryptocurrency News Blog CryptosNewz.