Jul 05, 2022 03:00AM ET
By: AnalysisWatch
Cardano posted a 24-hour gain of 4.32%, with its price rising to $0.4672.
The price of ADA rose above the 9 MA level on the daily chart.
The price of ADA could fall in the next 48 hours.
GB market analysis software is signaling that the price of ADA may decline over the next 48 hours in the date range.
Confirmation that the signal has been triggered will be when the ADA price drops to $0.44575. This is also the identified entry price for the trade.
The support levels for ADA/USDT identified by GB's Market Analysis Software are $0.4505 first support, $0.4315 second support, and $0.4185.
Meanwhile, the resistance levels for ADA/USDT identified by the software are 0.4825 USD first resistance, 0.4955 USD second resistance, and 0.5145 USD third resistance.
Cardano ranks 8th on CoinMarketCap's list of the largest cryptocurrencies by market capitalization. It posted a 24-hour gain of 4.32% to raise its price to USD 0.4672.
This also brings its total market capitalization to $15.75 billion.
ADA saw an increase in its total 24-hour trading volume as the figure now stands at $830,667,742, an 87.32% increase from the last day.
Cardano's price is closer to its 24-hour high of $0.4732 than its 24-hour low of $0.4474.
Compared to BTC and ETH, ADA has depreciated 1.61% and appreciated 4.29% against BTC. As things stand now, an ADA is worth about 0.00002305 BTC and 0.0004059 ETH.
Despite ADA's price increase over the past 24 hours, its price is still down over the past 7 days. According to CoinMarketCap, ADA's price has dropped 3.43% since last week.
Confirming the signal once again will be ADA's price reaching $0.44575, a level between the first and second support levels set by the software.
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