{"id":133803,"date":"2020-12-30T20:00:16","date_gmt":"2020-12-30T14:30:16","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=133803"},"modified":"2020-12-30T14:47:49","modified_gmt":"2020-12-30T09:17:49","slug":"cardano-price-analysis-30-december","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/cardano-price-analysis-30-december\/","title":{"rendered":"Cardano Price Analysis: 30 December"},"content":{"rendered":"

Disclaimer: The findings of the following article are the sole opinions of the writer and should not be taken as investment advice\u00a0<\/em><\/p>\n

Like many other altcoins in the market, Cardano had also been witnessing a drop in upward momentum followed by a period of consolidation. However, this could be seen as the next step, as the coin was noting a high value over the past couple of days. At the time of writing, Cardano was valued at $0.1807 with a market cap of $5.65 billion.<\/p>\n

Cardano one-hour chart<\/strong><\/p>\n

\"\"<\/a>
Source: ADA\/USD<\/a> on TradingView<\/figcaption><\/figure>\n

According to the chart, the value of ADA surged from $0.1510 to $0.1972, before falling. The price first breached the price level at $0.1883, and later began to consolidate between $0.1883 and $0.1795. Meanwhile, the selling pressure has been increasing but the bearishness of the market also showed a rather indecisive picture.<\/p>\n

Reasoning<\/strong><\/p>\n

The Relative Strength Index has been noting that the coin has reached a point of equilibrium as the correction set in. Although a stable state, the price of the digital asset has been noting selling pressure, which could be a signal for another fall for the coin.<\/p>\n

Meanwhile, the Chaikin Money Flow has already been indicating that the money is flowing out of the market, as it remained under the zero-line.<\/p>\n

Position<\/strong><\/p>\n

Entry: $0.1799
\nStop-Loss: $0.1841
\nTake-Profit: $0.1731
\nRisk-to-Reward: 1.59<\/p>\n

Conclusion<\/strong><\/p>\n

Although there was the probability that the coin may take another fall, the market still appeared pretty indecisive. The price drop is likely to be brief and may be followed by an upward swing. The indicators have been noting a bearish outlook in the market, but the signs of a reversal are currently not very promising. Traders will be able to take a minimal profit at the current price level.<\/p>\n","protected":false},"excerpt":{"rendered":"

Disclaimer: The findings of the following article are the sole opinions of the writer and should not be taken as investment advice\u00a0 Like many other altcoins in the market, Cardano had also been witnessing a drop in upward momentum followed by a period of consolidation. However, this could be seen as the next step, asContinue reading “Cardano Price Analysis: 30 December”<\/span><\/a><\/p>\n","protected":false},"author":22,"featured_media":133829,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[31,41,66,3,4,20],"tags":[],"class_list":["post-133803","post","type-post","status-publish","format-standard","has-post-thumbnail","category-altcoins-news","category-analysis","category-new-news","category-news","category-social","category-trading-view"],"acf":[],"yoast_head":"\nCardano Price Analysis: 30 December - AMBCrypto<\/title>\n<meta name=\"description\" content=\"Cardano had been also witnessing a devaluation followed by a period of consolidation. 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