Cardano Resumes Downtrend, Madoge Surges

Two days ago, Cardano appeared to be trying to break out of the downtrend. As soon as this attempt was made, traders started selling the crypto. As a result, this initiated a continuous downward level retracement.

Cardano prediction statistics:
ADA Current Price: $0.4593
Cardano market cap: $15.71 billion
Cardano circulation: 34.18 billion
Total Cardano supply: 34.85 billion
ADA Coinmarketcap Ranking: #8

Therefore, this market should be investigated further to discover signs of possible market improvement or deterioration. This analysis looks at ADA/USD and ADA/BTC to decide what to expect and make the appropriate move.

Main value marks:
Upper level: $0.5000, $0.5500, $0.5940
Floor Level: $0.4593, $0.4350, $0.4250

Meanwhile, Cardano Slumps, Dumb Optimism Continues to Rise

After the current downtrend in this market settles down, sellers are back in action. As a result, this led to further price retracements. The ADA/USD price action continues below the EMA line after the line crosses the previous price candle. In addition, the RSI continues to hit the oversold territory, indicating further declines in price action, and Cardano’s price action could fall below his $0.4400 level unless buyers resume buying. . Paying attention to the RSI, however, we can see that the faster line is already curving towards the slower line, which could indicate a steady increase in buying activity.

Cardano Price Analysis: ADA/BTC May Resume Upward Movement

ADA/BTC has also witnessed a sizeable downward correction, but even at that price the move here still seems to be in favor. This is because the price level of is just below the EMA curve. And if the trader needs to put in some buying effort in this market, the value will move above his EMA, indicating the potential for further price increases.

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Additionally, the stochastic RSI indicator has lines pointing to overbought areas. However, if you take a closer look at the lines of this indicator, there seems to be minimal correction from fast lines to slow lines. At this point, the trader can predict two things. The first is the resumption of buying activity as indicated by the RSI which causes the RSI line to continue its upward journey. Traders can also expect a further reversal in price. Be that as it may, traders need to exercise some patience.

Tamadoge has completed the 7th phase of the pre-sale, more than a month after the pre-sale started. In this 7th phase, the TAMA token price was 1 USDT = 40 TAMA. After reaching the $13.25 million milestone, the token price increased to 1 USDT = 36.36 TAMA and is now in the 8th stage. If demand continues to grow at the same pace as the past month, Phase 8 will be complete soon. The next phase is the 9th and final phase. The price will also increase in this phase as 1 USDT = 33.33 TAMA tokens.

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