- Cardano price has seen a correction in recent hours; Consolidation needs to remain intact if any rise doesn’t take place
Just recently, ADA coin has seen a sharp pullback from $0.050 to $0.0489. now, the coin is a position from where it’s further move can decide whether it will keep having the same grip over bulls or not. At least a sustained consolidation above 0.5 fib level is mandatory if the coin can’t manage a fresh rise.
- Yesterday’s price escalation continued till 6:10 UTC today; soared by 9.42%
Cardano started yielding a significant price recovery from yesterday. The 11-hour long price escalation was as strong as 9.42%. However, consolidation with a positive bias lasted for just 3 hours. After that, the ADA coin has lost momentum. At the moment, the price is approaching the 0.382 fib level with a declining move.
While Cardano has faced rejection at $0.050, the leading crypto coin BTC is battling to stay above $9000. Meanwhile, top altcoins XRP and ETH are also struggling to maintain a positive bias.
- Yesterday’s initial hour saw bears coming in and controlling the Cardano price heavily; Meanwhile, technical are giving mixed signals
The recent rally of ADA’s price has taken place after yesterday’s notable price plunge of 5.73%. Contradictory to the coin’s current approach, RSI is stable, and MACD is in the bullish zone too. You can visit Cardano prediction to get information about price movement in the future.