{"id":2580,"date":"2022-03-13T22:43:52","date_gmt":"2022-03-13T22:43:52","guid":{"rendered":"https:\/\/fatburningcoffeetrick.com\/?p=2580"},"modified":"2022-03-13T22:43:52","modified_gmt":"2022-03-13T22:43:52","slug":"cardano-looks-primed-to-rebound","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=2580","title":{"rendered":"Cardano Looks Primed to Rebound"},"content":{"rendered":"<p> <script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<\/p>\n<h3>Key Takeaways<\/h3>\n<p>Cardano could be preparing for a bullish impulse.\u00a0<br \/>\nADA is sitting on critical support while buy signals are appearing.<br \/>\nA spike in buying pressure could push ADA to $1.\u00a0<\/p>\n<p>Share this article<\/p>\n<p>Cardano looks to be sitting in extremely oversold conditions, possibly leading to a bullish impulse. Several technical indicators favor the optimistic outlook, although support looks weak.<\/p>\n<h2>Cardano Appears Ready to Rebound<\/h2>\n<p>Cardano appears to have reached a crucial support area while it remains stuck in a six-month downtrend.<\/p>\n<p>The Layer 1 blockchain\u2019s ADA token has lost significant ground since it reached an all-time high of $3.10 in September 2021. While other Layer 1 tokens like Terra\u2019s LUNA have recently regained momentum, Cardano continues trending downwards as it sits 75% short of its peak. The downward pressure seen over the last few months has brought the asset to a make-or-break point.<\/p>\n<p>Cardano\u2019s price action appears to be contained within a descending parallel channel that developed on its three-day chart in September 2021. Every time ADA has risen to this technical formation\u2019s upper boundary since then, the uptrend has reached exhaustion, leading the price to retrace to the pattern\u2019s middle or lower edge. From this point, ADA tends to rebound, which is consistent with the characteristics of a parallel channel.<\/p>\n<p>After getting rejected from the channel\u2019s middle trendline in late February, Cardano retraced to the pattern\u2019s lower boundary, where it\u2019s currently trading. If this support level can hold as it has done over the past six months, ADA could rebound to the channel\u2019s middle or upper edge. These resistance levels sit at $0.87 and $1.<\/p>\n<p>The Tom DeMark (TD) Sequential indicator adds credence to the optimistic outlook as it is currently presenting a buy signal on ADA\u2019s three-day chart. The bullish formation developed as red nine candlestick, which is indicative of a one to four candlestick upswing.<\/p>\n<p><em>Source: TradingView<\/em><\/p>\n<p>Although the odds appear to favor the bulls, the $0.75 support level is crucial. Any sign of weakness around this price point could induce further panic among market participants, leading to a sell-off. A spike in selling pressure around such a vital area of support could push ADA toward $0.50.<\/p>\n<p><em>Disclosure: At the time of writing, the author of this piece owned BTC and ETH.<\/em><\/p>\n<p>Share this article<\/p>\n<p>The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.<\/p>\n<p>You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.<\/p>\n<p>See full terms and conditions.<\/p>\n<h3 class=\"title\">NFT Express: Your on-ramp to the world of NFTs<\/h3>\n<p>\nAt Tatum, we\u2019ve already made it super easy to create your own NFTs on multiple blockchains without having to learn Solidity or create your own smart contracts. Anyone can deploy&#8230; <\/p>\n<h3 class=\"title\">New Cardano DEX Hopes to Overcome Chain\u2019s Scaling Woes<\/h3>\n<p>\nAdaSwap, a new ecosystem builder on Cardano, announced Tuesday that it had raised $2.6 million to build \u201cthe best, decentralized exchange on Cardano.\u201d AdaSwap Raises $2.6M to Build First Working&#8230; <\/p>\n<h3 class=\"title\">Bashoswap is Building a Cardano-Powered Decentralized Exchange<\/h3>\n<p>\nBashoswap is a decentralized exchange (DEX) on the Cardano network that aims to facilitate swaps between ADA and other crypto assets built on Cardano. A Blockchain Powered Decentralized Exchange Bashoswap&#8230; <\/p>\n<h3 class=\"title\">Cardano Grows Block Size by 11% to Meet Scaling Challenges<\/h3>\n<p>\nCardano\u2019s core development team, Input Output, will increase the network block size by 11%. The team has also planned a memory boost for its smart contract platform, Plutus. Cardano Aims&#8230; <\/p>\n<p><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/cryptobriefing.com\/cardano-looks-primed-to-rebound\/?utm_source=main_feed&#038;utm_medium=rss\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Cardano could be preparing for a bullish impulse.\u00a0 ADA is sitting on critical support while buy signals are appearing. A spike in buying pressure could push ADA to $1.\u00a0 Share this article Cardano looks to be sitting in extremely oversold conditions, possibly leading to a bullish impulse. Several technical indicators favor the optimistic [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":2581,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[4],"tags":[],"class_list":["post-2580","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-news"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/2580","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2580"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/2580\/revisions"}],"predecessor-version":[{"id":2582,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/2580\/revisions\/2582"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/2581"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2580"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2580"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2580"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}