TLDR
- Cardano is traded within a three -week range near its long -term assortment
- Price is currently threatening to switch to Baisse -Tarted market structures after falling under $ 0.74
- Trading during the 20-period sliding average indicates baisse-like short-term momentum
- Santiment data shows network -comprehensive accumulation since April
- Medium term holders (90-day MVRV at 26.5%) can potentially take profits
Cardano (ADA) has been limited to a trading area since December, with a smaller interval that is formed over the past three weeks near its long -term low outlet. While there is a purchase of pressure, Momentum is missing because Cryptocurrency is struggling to maintain its haus -like market structure.
On the daily diagram, Cardano’s Bollinger band seems relatively wide, which indicates the current volatility despite the range-bound price measure. Token had established a raised market structure after recovering and recovering the support level of $ 0.68. This led to a rally in early May that created a higher low at $ 0.74.
But at the press time, Ada trading Below this critical level, threaten to switch to a baisse -like structure. The price has also dropped during the 20-period sliding average, which indicates Baisseart in the short term.
The current short -term trade area ranges from $ 0.73 to $ 0.84, with an intermediate level to $ 0.78. On the 4-hour chart, the Bollinger bands have been tightened around the price as it gradually dropped to $ 0.73 over the past five days.
Technical indicators point to baissearted pressure
Technical indicators on 4-hour time frame confirms the baisse-like speed. Trade volume has decreased since May 24, but sellers have dominated over the past three days, as evidenced by the indicator’s indicator of the balance volume (OBV).
For Cardano Bulls, a price fall to $ 0.71- $ 0.725 area can provide a purchase opportunity, although it seems risky at current levels.
Information from Santiment reveals that cards to medium -sized holders are on healthy profits. The 90-day market value at realized value (MVRV) ratio is 26.5%, while long-term investors show more modest profits with 365-day MVRV at just 8%.
This profit margin for medium -term holders creates potential for profit, which can trigger sales. Such sales pressure would probably result in increased movement on the chain and register at the average coin age.
Accumulation on the chain shows
The average coin age metric gives encouraging signs for investors, after trending greatly higher since the beginning of April. The latest price decline has not been accompanied by heavy sales, which indicates that bulls may be strong enough to defend $ 0.73 low.
This ongoing networking accumulation signals that Cardano can prepare to break over its short -term reach if the trend continues.
Cardano Bulls is now facing the challenge of overcoming current resistance levels to maintain the haus -like structure established earlier this month. The most important level to look at is $ 0.74, which must be recycled to prevent a transition to Baisse -Tarted market structures.
Currently Cryptocurrency continues to trade within its three -week range when marketing participants are waiting for clearer direction signals.
The durable accumulation pattern shown in chain measurements suggests underlying strength despite the current price weakness. If this accumulation continues, it can provide the basis for Cardano to eventually break out of its current commercial area.