Cardano Price Prediction: A new yearly low before the bounce

Cardano price has suffered a vicious downtrend move throughout November. Ss price consolidates, the technicals suggest a bounce occurs while on-chain metrics hint that investors are considering securing profits sooner than later. Key levels have been defined to gauge ADA's next potential move.


Russia set to launch a national crypto exchange; Belgium declares Bitcoin, Ethereum non-securities

Russia triggered one of the biggest crashes of the crypto market this year, even before FTX, in February, after waging war against Ukraine. The consequential global sanctions led to the citizens of the country relying on cryptocurrencies to conduct their business.


This on-chain indicator suggests Bitcoin price is near the lows

Bitcoin price has recovered 7% of market value after breaking out to the downside following nearly two weeks of consolidation. The newfound low at $15,476 produced a bullish divergence on the Relative Strength Index(RSI), likely enticing traders to consider riding a long position throughout the weekend.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Cryptos feed Join Telegram

Recommended content


Recommended Content

Editors’ Picks

Dogecoin surges 16% to continue its holiday cheer

Dogecoin surges 16% to continue its holiday cheer

The popular meme coin soared 16% over the previous 24 hours and was trading at more than 10 cents. DOGE has risen nearly 50% since last Monday with most of its gains occurring during U.S. Thanksgiving holiday celebrations.

More Dogecoin news

Bitcoin price tanks as covid protests erupt in China, pushing investors into risk-off mode

Bitcoin price tanks as covid protests erupt in China, pushing investors into risk-off mode

Bitcoin price slipped 3.3% in a fresh start to the week as covid protests erupt in China. As a result of this, investors seem to be heading into a risk-off mode, pushing safe haven assets like the US Dollar, bonds, and Yen higher.

More Bitcoin news

Binance Coin Price Prediction: Two things need to happen for BNB to hit $450

Binance Coin Price Prediction: Two things need to happen for BNB to hit $450

Binance Coin price could be running out of gas to continue its massive rally. While the last five days have been exciting times for holders, the following days will need to be closely monitored. The threat of a downswing looms for BNB.

More Binance Coin news

Litecoin Price: Two reasons why a $100 LTC is not coming anytime soon

Litecoin Price: Two reasons why a $100 LTC is not coming anytime soon

Litecoin price embarked on an incredible rally after the FTX-induced crash bottomed on November 9. Due to the explosive moves, many investors are in profit. However, for a further extension of this move, a minor retracement might be necessary.

More Litecoin news

Bitcoin: Assessing chances of one last bear market rally for 2022

Bitcoin: Assessing chances of one last bear market rally for 2022

BTC is in a good place to trigger another bear market rally from a high-time frame perspective. This development, combined with the optimistic outlook seen in on-chain metrics, further strengthens the possibility of a happy ending to 2022.

Read full analysis

BTC

ETH

XRP