Shop Sephari

Ekta Mourya Ekta Mourya
FXStreet

Cardano investors are active and engaged in profit-taking, in the ongoing cycle. With assurances from Charles Hoskinson and developers on the Cardano network, ADA holders are convinced that the Vasil hard fork is on track. 
Also read: Cardano price rally is imminent, analysts set $0.72 target for ADA
Crypto intelligence platform Santiment revealed that profit taking is at its highest point in four months in Cardano. In March 2022, Cardano price was sitting around the desired $1 level. Profit taking has hit a peak at $0.55, nearly 50% below the bullish target of $1. 
Sentiment among investors is rather positive, Cardano price is up 22% in the past three weeks. The ratio of on-chain transactions as profit taking/selling at a loss is at its peak, for the first time in four weeks. 
Cardano Sentiment among holders
Cardano Sentiment among holders
Charles Hoskinson assured the crypto community that the Vasil hard fork will proceed without a hitch and no further bugs were discovered in recent tests. In the first two weeks of August, Hoskinson said that the Cardano testnet was hard forked to run version 1.35 of the Vasil upgrade. 
Internal testing revealed three bugs, engineering and quality assurance firms have noted no need for significant changes on version 1.35.3. Hoskinson told ADA holders that the chances of something going wrong are really small, therefore fueling bullish sentiment in the Cardano community. 
Though Cardano is notorious for its low profitability, ADA recently released its smart contract technology. Analysts have a bullish outlook on Cardano and predict a rally in the Ethereum-killer altcoin. 
Gert van Lagen, a leading crypto analyst and trader believes bull market structure in ADA is intact. On the weekly Cardano price chart, high timeframe support is $0.40 to $1 and low timeframe resistance is $1.40 to $2. 
A decline below $0.17 could invalidate the bullish thesis for Cardano price. Gert van Lagen believes the extension targets for waves IV-V are $6, $8, $12 and $27. 
ADA/USD 1-week price chart
ADA/USD 1-week price chart

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.
Cardano price punished early bulls by collecting the sell-stop liquidity resting below the September 2 swing low at $0.448, hinting at a reversal. Now, investors can expect ADA to kick-start a recovery rally to the $0.505 hurdle.
SafeMoon price shows a lack of volatility as it trades around the $0.000342 level. A breakdown of this barrier could result in a 40% drop to $0.000220. A daily candlestick close above $0.000342 will invalidate this bearish thesis. 
Ethereum Classic price has lost support from the 8-day exponential and 21-day simple moving averages. ETC price shows an uptick in volume amidst the decline. Invalidation of the bearish thesis is a breach above the swing high at $42.50.
XRP price validates the previous countertrend thesis, still trying to attain more profit from the current uptrend has accompanying risk. XRP price has displayed applaudable price action over the weekend. Since Friday, September 16, the digital remittance token has rallied 19%.
Bitcoin price has not only swept key swing lows, as noted in last week’s articles, but it has also reached its first recovery level target. While the recovery rally was as quick as it was a surprise, investors can hope for a minor retracement to get on the next leg-up.
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer.
Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.
Opinions expressed at FXStreet are those of the individual authors and do not necessarily represent the opinion of FXStreet or its management. FXStreet has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and Omissions may occur.Any opinions, news, research, analyses, prices or other information contained on this website, by FXStreet, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXStreet will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

source

Shop Sephari

Leave a Reply