Cardano on Tief of Death Cross on the daily table

Cardano (ADA), the ninth cryptocurrency after market capitalization, is about to take a cross in his daily table. This technical indicator indicates that Cardano loses dynamics on the market if the prices continue to dive.

Death Cross Signals Caution when Cardano $ 1 rally stands

The Cardano Daily diagram shows that the nine-day simple, sliding average is about the 21-day long-term moving average. This indicates a potential bear signal for ADA, whose attempt will decrease in a rally in the past seven days.

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Cardano broke several levels of resistance when it rose from a low of $ 0.71, which aimed at the 1 -dollar level. The journey to this psychological level has encountered enormous resistance.

Although Ada had a rally of the breakout in mind, he couldn't stay on the right track to achieve his goal.

At the present time, Ada changed owners with $ 0.7616, which corresponds to a decline of 6.26% in the last 24 hours. In view of the price volatility of the assets, investors show little enthusiasm. The trading volume has only slightly increased by 4.82% at 1.16 billion US dollars.

With the close formation of a death cross, retailers may have to prepare another volatility that the ecosystem could hit.

Ada futures dynamics do not support the price

As reported by U.Today, Cardano dealers expected a rally to 1 US dollar because they had committed 1.2 billion ADA worth over 958 million US dollars for the futures market. However, the market did not maintain the forecast Bullish dynamum.

ADA investors have to pay attention to the next catalyst to support an upward price movement.

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Unfortunately, Cardano's Bollinger bands have recently moved to extreme levels, which may be responsible for ongoing volatility. Remarkably, this technical indicator indicates a short -term withdrawal for ADA.

With the Cardano trade volume in the green, however, an increase in this metric could trigger a price layer.