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Cardano [ADA] Technical Analysis: Bear attack imminent after brief respite

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Cardano [ADA] Technical Analysis: Bear attack imminent after brief respite
Source: Pixabay

Cardano [ADA] showed no impressive price movements during the first month of this year. The eleventh-largest cryptocurrency on CoinMarketCap, ADA, burgeoned to a market cap of $1.40 billion on January 10, the highest recorded for the digital coin this month. During the last 24 hours, ADA witnessed a steady increase in its valuation.

At the time of writing, ADA noted a market cap of $1.02 billion priced at $0.039. The total volume of the crypto-coin traded was $28.08 million, with an optimistic 2.31% change in the otherwise stagnant market.

1-hour

Source: Trading View

Source: Trading View

In the one-hour stint, ADA a moderate uptrend of $0.040 from $0.038 and a downtrend of $0.043 to $0.039 have been registered. The price momentum between $0.0405 and $0.038 was noted wherein the immediate resistance and the support were marked respectively.

The converging Bollinger Band points to a low price volatility for ADA.

The MACD line treading below the Signal line points towards a bearish trend for the coin.

Moreover, the Awesome Oscillator draws a bear picture with the lines in red.

1-day

Source: Trading View

Source: Trading View

ADA exhibited a mediocre uptrend to $0.043 from $0.039 as opposed to the massive downtrend to $0.044 from $0.082. The resistance for this time period was marked at $0.046 and two supports were noted at $0.038 and $0.030.

Parabolic SAR indicator for the time period of one-day points towards a bear market trend for ADA with the dotted lines aligned above the candles.

The Chaikin Money Flow graph treads below the zero-line, also indicating that the coin’s price movement towards a bear zone.

Klinger Oscillator suggests a bear trend for ADA.



Conclusion:

Indicators such as MACD, Awesome Oscillator, Parabolic SAR, CMF and Klinger Oscillator, all demonstrate ADA’s price momentum in the bear zone. Bollinger Bands, however, exhibited low price volatility and a stable pace for the coin. Also, the CMF graph, which is very close to the zero-line, might potentially move upward to the bull space.





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Chayanika holds a Journalism degree and is currently working with AMBCrypto. She is inquisitive about everything that the Blockchain Technology has to offer.

Analysis

XRP vs Stellar Lumens [XLM] Price Analysis: Bears stall coins’ bullish momentum

Yash Rajan

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XRP vs Stellar Lumen [XLM] Price Analysis: XRP and XLM bulls stalwart bears
Source: Pixabay

Ripple’s XRP saw a huge amount of capital being transferred yesterday and was ranked third on CoinMarketCap, with a market cap of $16.258 billion, at press time. According to CoinMarketCap, XRP was priced at $0.386 and had a 24 hour trading volume of $1.664 billion. It surged by 4.07% over 24 hours.

Stellar Lumens [XLM] stood ninth on the top-10 cryptocurrencies with a market cap of $2.438 billion. XLM was priced at $0.126 with a 24 hour trading volume of $474.116 million. XLM rose by 3.96% over the past 24 hours.

1-Day XRP

Resistance lines stood at $0.458 and $0.402 and supports were at $0.311 and $0.285. XRP saw an uptrend over the course of six months from $0.364 to $0.459. XRP also drew a downtrend over the past two weeks from $0.457 to $0.391.

Source: TradingView

Source: TradingView

Parabolic SAR markers were above the candles and indicated a bearish environment for the coin.

Moving Average Convergence/Divergence [MACD] indicator suggested an imminent bearish crossover

Relative Strength Index indicator showed that the buying and selling pressures had evened each other out

1-Day XLM

Stellar Lumens [XLM] saw an uptrend from $0.126 to $0.142. Resistance lines stood at $0.143 and $0.127 and support lines stood at $0.741 and $0.115.

Source: TradingView

Source: TradingView

Bollinger Bands pointed towards increment in volatility.

Awesome Oscillator indicator presented a bullish buying opportunity. However, bearish pressure was seen over the last few histogram bars.

Chaikin Money Flow indicator showed that the money flowing into the market was greater than the money flowing out of the market.



Conclusion

Both XRP and XLM seemed to have stalled in the face of bearish pressure, after posting some bullish gains.





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