Hello everyone , as we all know the market action discounts everything :)
The bearish movement of the Cardano seems to be ending when the price bounced up from the support line at 1.05 in the last few days and reached the first resistance line at 1.25. However, needs to break above $1.50 to make a Higher High and begin to reverse a Downtrend, if the price happens to crossover above the resistance line we could be seeing the cardano jumping more and creating more supports lines on the way .
The first jump most likely will reach the resistance line at 1.45 and that resistance line will be tested, if the price crossed over that resistance the second step would be the second resistance line at 1.59 , and the scenario will happen again at that resistance line and the price will reach the ranges of 1.83 in the next step.
different technical indicators are confirming the bullish movement where we see that :
1) The market price at 1.23 has crossed the MA at 1.17 (bullish sign)
2) The MACD showing good momentum with a positive crossover happening between the indicator and the market price (bullish sign)
3) The Stoch showing a positive crossover between %K and %D where %K (56.19) and %D ( 54.07) (bullish sign)
Support & Resistance points :
support Resistance
1_ 1.200665 1_1.47106443
2_ 1.186327 2_1.59542164
3_ 1.174810 3_1.85334770
Fundamental point of view :
Bitrue became the first cryptocurrency exchange to support native assets on the Cardano blockchain.
Cardano isn’t slowing down in its development as it continues to come up with new and ingenious offerings for its community. The development of native tokens on the network has seen Bitrue take steps to become the first cryptocurrency exchange to offer support for native assets on Cardano’s blockchain.
According to the Singaporean-based crypto exchange, the first Cardano native token to be supported will be
OCC, the native token for OccamFi. Cardano has received the short end of the stick for its “slow” development but has defied all expectations by providing regular updates for its community.
Cardano’s Mary protocol upgrade was an epoch-making event for the network as it introduced native tokens. These native tokens ushered in multi-asset support to Cardano and are indispensable in cutting costs and increasing liquidity.
A major difference between Cardano’s native tokens and ERC-20 tokens is that Cardano’s native tokens do not require smart contracts to handle transactions, minting, or storage. An ingenious secure and cost-effective way around this is the use of the accounting ledger to keep track of the ownership and asset transfers.
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This is my personal opinion done with technical analysis of the market price and research online from fundamental analysts for The Fundamental point of view , not financial advice.
If you have any questions please ask and have a great day !!!
Thank you for reading.
The bearish movement of the Cardano seems to be ending when the price bounced up from the support line at 1.05 in the last few days and reached the first resistance line at 1.25. However, needs to break above $1.50 to make a Higher High and begin to reverse a Downtrend, if the price happens to crossover above the resistance line we could be seeing the cardano jumping more and creating more supports lines on the way .
The first jump most likely will reach the resistance line at 1.45 and that resistance line will be tested, if the price crossed over that resistance the second step would be the second resistance line at 1.59 , and the scenario will happen again at that resistance line and the price will reach the ranges of 1.83 in the next step.
different technical indicators are confirming the bullish movement where we see that :
1) The market price at 1.23 has crossed the MA at 1.17 (bullish sign)
2) The MACD showing good momentum with a positive crossover happening between the indicator and the market price (bullish sign)
3) The Stoch showing a positive crossover between %K and %D where %K (56.19) and %D ( 54.07) (bullish sign)
Support & Resistance points :
support Resistance
1_ 1.200665 1_1.47106443
2_ 1.186327 2_1.59542164
3_ 1.174810 3_1.85334770
Fundamental point of view :
Bitrue became the first cryptocurrency exchange to support native assets on the Cardano blockchain.
Cardano isn’t slowing down in its development as it continues to come up with new and ingenious offerings for its community. The development of native tokens on the network has seen Bitrue take steps to become the first cryptocurrency exchange to offer support for native assets on Cardano’s blockchain.
According to the Singaporean-based crypto exchange, the first Cardano native token to be supported will be
OCC, the native token for OccamFi. Cardano has received the short end of the stick for its “slow” development but has defied all expectations by providing regular updates for its community.Cardano’s Mary protocol upgrade was an epoch-making event for the network as it introduced native tokens. These native tokens ushered in multi-asset support to Cardano and are indispensable in cutting costs and increasing liquidity.
A major difference between Cardano’s native tokens and ERC-20 tokens is that Cardano’s native tokens do not require smart contracts to handle transactions, minting, or storage. An ingenious secure and cost-effective way around this is the use of the accounting ledger to keep track of the ownership and asset transfers.
_____________________________________________Make sure to Follow and Like for more content_____________________________________________
This is my personal opinion done with technical analysis of the market price and research online from fundamental analysts for The Fundamental point of view , not financial advice.
If you have any questions please ask and have a great day !!!
Thank you for reading.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.