empty
08.11.2024 06:23 AM
Technical Analysis of Intraday Price Movement of Cardano Cryptocurrency, Friday November 08, 2024.

This image is no longer relevant

Although on the 4-hour chart, the Cardano cryptocurrency is seen moving harmoniously within the Bearish Pitchfork channel, the failure of the price movement of this cryptocurrency to test the Lower Line of the Bearish Pitchfork and the strong support level of 0.33416 has held back the decline of Cardano, plus confirmation by the appearance of deviations between the price movement and the EMA 21 which intersects the Golden Cross with the EMA 34 which is accompanied by the price movement of Cardano which is now above both EMAs, giving an indication that Buyers have started to re-enter and are now trying to bring Cardano to the Middle Line of the Bearish Pitchfork and/or to the level of 0.43698. It is possible that after testing this level Cardano will experience a decline again, but as long as it does not break through and close below the level of 0.33861, Cardano still has the opportunity to strengthen again to the level of 0.49442.

(Disclaimer)

Summary
Urgency
Analytic
Arief Makmur
Start trade
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

Trump concerned about gains from World Liberty Financial

Recently, the market saw the launch of the World Liberty Financial project, the creation of which is directly tied to the family of US President Donald Trump. Everything seemed fine

Jakub Novak 17:54 2025-09-05 UTC+2

Another green light for crypto market

Yesterday, news emerged that the US Securities and Exchange Commission (SEC) had unveiled its regulatory agenda, which may include extensive proposals to revise rules governing cryptocurrencies and to reduce regulations

Jakub Novak 11:39 2025-09-05 UTC+2

Trading Recommendations for the Cryptocurrency Market on September 5

Yesterday, Bitcoin experienced a fairly strong correction down to around $109,400, but during today's Asian session, demand for the world's first cryptocurrency surged, allowing it to jump up to $111,600

Miroslaw Bawulski 09:14 2025-09-05 UTC+2

Bitcoin Forecast for September 5, 2025

Bitcoin (BTC) After a brief move above the 111,904 level on September 3, the price returned below this mark and consolidated there. The Marlin oscillator has remained in negative territory

Laurie Bailey 05:19 2025-09-05 UTC+2

European cryptocurrency legislation needs further refinement

While Bitcoin and Ethereum remain undecided about their next direction, European Central Bank President Christine Lagarde stated that the European Union should impose guarantee requirements on stablecoin issuers based outside

Jakub Novak 15:36 2025-09-04 UTC+2

Trading tips for crypto market on September 4 (North American session)

Bitcoin slid to $110,400 and is taking a breather. Ethereum is also slightly correcting but its bullish potential remains intact Meanwhile, an interesting report from QCP Capital caught

Miroslaw Bawulski 15:34 2025-09-04 UTC+2

Bitcoin and Ethereum change their minds about growing

Bitcoin, which had been showing signs of the bullish momentum this week, dropped sharply during this morning's trading session, completely erasing yesterday's gains. This suggests that many institutional players

Jakub Novak 10:23 2025-09-04 UTC+2

Trading Recommendations for the Cryptocurrency Market on September 4

Yesterday, Bitcoin tested the $112,500 level but failed to hold it. Ethereum also saw a sharp pullback after a decent recovery of more than 3%. Today's sharp decline during Asian

Miroslaw Bawulski 08:51 2025-09-04 UTC+2

Litecoin Cryptocurrency Has the Potential to Weaken Today. Thursday, September 04, 2025

[Litecoin] – [Thursday, September 04, 2025] With the appearance of a Bearish Divergence between Litecoin price movements and the RSI, there is potential for #NDX to weaken towards its nearest

Arief Makmur 07:54 2025-09-04 UTC+2

Capital inflows return to Bitcoin

Fresh data show that on Tuesday, Bitcoin-based exchange-traded funds outperformed their Ethereum-based counterparts in terms of investment flows. According to SoSoValue, spot Bitcoin ETFs saw net inflows of $332.7 million

Jakub Novak 09:51 2025-09-03 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.