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Cardano (ADA) Price Is Reversing Back To $0.058. Will Bullish Hammer Push It to New Heights?


Cardano (ADA) Price Is Reversing Back To $0.058. Will Bullish Hammer Push It to New Heights?

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Contents

After reaching the recent $0.09 new high, Cardano started disappointing us – it’s back to $0.06, and doesn’t seem to be growing again. Is there hope?

Should traders continue making stakes on ADA? Let’s overview both ADA/USD and ADA/BTC pairs in Cardano price predictions from tradingview users.

The double bottom might be forming

Watch whether the double bottom is forming

At present, ADA is at the 0.618 retracements. With the potential of BTC to retrace a bit further, the entry for ADA might be around the fib 0.786.

What about technical indicators?

On the Daily, 100 EMA is acting as support. The AMX indicator hinting more of the same direction. RSI indicating it can go further down with its current trajectory and momentum. This, unless we see a double bottom pattern forming, we should hold off buying ADA until fib 0.786 is reached.

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So, when to buy Cardano?

ADA is taking a reverse, don’t miss trading opportunities

Right now, when Cardano is making a reverse movement, it might be the high time to add up to your ADA reserves for further selling. So, what do we have here? User deSultanTM shares a few observations and trading tips:

  • Reversal Area: $0.06195 (failed), 0.6061, $0.05820,

  • Demand level $0.05162-$0.04878,

  • Big Support: $0.04406, $0.04090, $0.03775

Hopefully, the big support won’t be reached – it seems to be a too serious failure even for Cardano.

Bullish hammer is forming

The bullish hammer is forming

On the price chart from yukipa, we can see that ADA is creating a bullish hammer on the daily time frame on market structure support. The Hammer candlestick means bulls have managed to push bears out and push the price up – it’s a very good sign. We should be looking for long entries in LTF when the candle closes like this.

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ADA/BTC pair: The big spike is coming!

ADA/BTC is on the verge of a great breakout

This user has noticed the situation at ADA/BTC market. Daily RSI is showing that soon big spike up is coming. We are seeing big support at around 0,00001050. Price has been bouncing from this support 3 times and it's coming to it again. It would be logical to expect a bounce back to at least 0,00001900 from this point.

We have to wait till MACD will cross with daily RSI on about 15-17 level. All we need to do is just wait for confirmation on MACD. Of course its short time strategy (about 2 weeks or 1 month). Sell ADA around 0,000020 if MACD will be confirmed. Shelley will be released soon too so it may have a very positive impact on the price too.

Final words

When it comes to the ADA/USD market, the current period is definitely not the best one for Cardano: we should expect it break other bottom levels and test support. It’s not likely it will return its glorious level of $0.09 in the nearest future. Wait for further reversal, buy, and accumulate.

On the ADA/BTC market, more positive changes are coming. Keep an eye out on the trends and don’t miss the opportunity to make profits!

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About the author

Crypto writer, blockchain geek & Bitcoin holder with a strong belief in the power of cryptocurrency. Veronika combines in-depth analytical approach with creative writing to deliver the texts that both inform and entertain. With hundreds of reviews, SEO articles and marketing texts under the belt, she has experience of working for blockchain Medium channels, Cryptodiffer site and ICOs. Part of U.Today team since 2018, she focuses on crypto price predictions and monitors the market to provide the most relevant info & opinions.

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Ripple (XRP) Is Approaching the $0.27 Support Zone. How Low Might XRP Slump?


Ripple (XRP) Is Approaching the $0.27 Support Zone. How Low Might XRP Slump?

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Contents

The recent months have been nothing but disappointment for XRP traders, especially long-term hodlers. While Bitcoin and other altcoins have made a glorious path to new heights, XRP managed to crawl to $0.45 level and got back. Recently, it has even fell below $0.30 - a bad sign for traders. So, what to expect from XRP price next? Let’s check out Twitter users’ XRP price forecasts and their opinions. 

When innovations are hopeless

A lot of traders have been waiting for new technological advanced introduced by Ripple labs - it would make XRP price people thought. However, surprisingly, XRP did not grow - it went the opposite direction. This is what makes Twitter user say ‘RIP Ripple’.

Take a look at their predictions and moods:

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Dreamers stay dreamers

However, some users continue claiming that Ripple is able of reaching new heights. Here’s what some of them think:

A more possible scenario:

But what if Ripple is NOT supposed to be expensive? Take a look at this opinion:

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Indeed, XRP seems to stand aside from the scope of all other altcoins. It simply doesn’t follow the path of Bitcoin or any other digital currency. Market uptrend? Ripple hardly reacts. Technological advanced? XRP market does not depend on it either. Thus, making predictions often proves to be useless. 

Hold or buy more

Since no one knows for sure what will happen with Ripple (XRP) price, you can continue holding it and buy some XRP while the cost is tasty.

Moreover, XRP can dump a little bit more:

Thus, buying at $0.24 would be even a better idea. With the major downtrend on the crypto market, this might be possible.

Conclusion

Ripple’s XRP is too far from $0.50. Moreover, it might even drop below $0.30 again. That means you should either hold XRP for a few months (or years) more, or speculate on shorts – the second option is better for experienced traders.

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About the author

Crypto writer, blockchain geek & Bitcoin holder with a strong belief in the power of cryptocurrency. Veronika combines in-depth analytical approach with creative writing to deliver the texts that both inform and entertain. With hundreds of reviews, SEO articles and marketing texts under the belt, she has experience of working for blockchain Medium channels, Cryptodiffer site and ICOs. Part of U.Today team since 2018, she focuses on crypto price predictions and monitors the market to provide the most relevant info & opinions.

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