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Trading Signals

ADA ended the previous session at $0.389; currently trading at $0.386

24 April 2023

ADAUSD

ADA weakened earlier in the day, before moving away from its $0.386 low and recovering back to $0.386.

Despite being in the red so far in the current trading session, Cardano peaked above its 5 day Simple Moving Average around $0.398 — typically an early indicator of a new bullish trend beginning to emerge. ADA's lower Bollinger Band® is at $0.359, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains. ADA could begin to recover as it approaches significant support, now 1 cents away from $0.38. Dipping below could be an indication that further losses are ahead.

Technical analysis indicates that Cardano (currently on a downtrend) might reverse course and start pointing upward in the short term.

In the meantime, negative performances are also seen in other markets, Ethereum slips 1.08% to trade around $1,842. TRON is trading around $0.066 (down $0.001).

Positive performances can be seen by looking at other markets as FTX Token is up 9.54%.

ADA has fallen back around 56.62% from the significant high of $0.897 set 11 months ago. ADA has a market cap of 13.44 billion with an average daily volume of 378.66 million.

Market Summary

Latest Crypto News

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FTX cryptocurrency trades up $0.119, approximately 9.54% higher this afternoon

Mixed sentiment leads TRON cryptocurrency to trade sideways; establishes tight $0.069 to $0.07 range

Binance Coin cryptocurrency trades up $1, approximately 0.32% higher going into tomorrow

LTC cryptocurrency trades up $0.62, approximately 0.74% higher going into tomorrow

Passive Asia-Pacific markets defy bearish US sentiment

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