Cardano technical analysis: ADA nears oversold levels
The Bitcoin Cash uncertainty has unleashed a drastic bear storm affecting the overall crypto market. Most cryptocurrencies are trading in the red, with most posting losses of over 10%. The bear rally, which has lasted for over 24 hours, has wiped off almost $30 billion from the collective market cap, according to Coinmarketcap. Bitcoin is the most affected as it has breached $6,000 – a key support level – and is currently trading at around $5,400, its lowest in a year. Cardano [ADA] prices have lost over $200 million in market value during the bear storm and has reached its one year low .
ADA prices have reached its one year low to trade around $0.057. Sellers are trumping over buyers to effect a downtrend. The MACD represents a severe bearish momentum for the coin. The RSI level suggest that ADA is dangerously close to being oversold. The 100 EMA line trading at 0.0696 is exhibiting a downtrend. ADA is currently exchanging hands at $0.059 and is plunging against USD by 15.35%.
ADA is losing against BTC by 3.27%. At the time of writing, one ADA is equal to 0.00001095 BTC.
ADA Price Prediction 2018,2020
- According to Smartereum, ADA would be valued at $ 2.50 by the end of 2018.
- The Oracletimes forecasts the price to reach around $1.5 by the end of this year.
- Longforecast.com predicts the prices to be around $1.89 by the end of the year.
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