Blowing Bearish Cardano News, What Would Be The Future of Cardano(ADA) Price?

The post Blowing Bearish Cardano News, What Would Be The Future of Cardano(ADA) Price? appeared first on Coinpedia — Fintech & Cryptocurreny News Media| Crypto Guide

Bitcoin is yet again draining at a notable margin, slashing below $48,500 in a very short time frame. And hence initiated with a notable bearish trend throughout the crypto space. However, Cardano price which had drowned extensively since the beginning of December appeared to have halted its downtrend a little. Hovering around the consolidation, yet the ADA price is awaiting a notable push. Yet a massive breakdown could make its way out anytime from now.

A couple of months before, a similar event occurred with the Bitcoin price which slashed the asset with a notable region. The ‘Death Cross’ which hovered the BTC price rally is now haunting the Cardano price rally. The event is expected to occur any time from now and hence a remarkable plunge could be imminent.

As mentioned in the above figure, the 50 day MA is on the verge to cross the 200 days MA and swinging towards the south. Therefore manifesting the possibility of a notable drain incoming soon. Interestingly this event has not occurred ever since the beginning of the year 2021. And hence if the price keeps consolidating or plummets to the lower levels, the 50-day MA could eventually cross the 200-day MA confirming with the death cross.
Please support thecryptocoinreport.com by sharing this post. Also, support us on https://twitter.com/the_crypto_coin and on instagram.com/the_crypto_coin_report/

Read More..
Source: #Coinpediaorg
Source: thecryptocoinreport.com

#crypto
#cryptonews
#cryptocurrency
#nft
#nftnews