Search
Search
Cardano blockchain crypto ADA Hits Key Support Level

ADA a digital cryptocurrency in Cardano blockchain reaches (ADA) psychological Support Level of $0.30

0
0

169 Listen to this article In the Financial market, including Cryptocurrency market, there are certain levels of price of assets […]

Latest News

Listen to this article

In the Financial market, including Cryptocurrency market, there are certain levels of price of assets that can have psychological impact on traders and investors and can influence their decision to buy and sell a particular holding. This level is called Psychological support levels.

What is special about this level?

At this level the price of an asset, here ADA has declined to a level that it becomes very significant for the investors. They view this as an opportunity to enter the market and initiate buying. It is indicated as a point on a price chart and often depicted in round numbers, generally ending in zeros, such as $1, $10,$100, etc. These levels can have psychological impact on traders and investors, influencing their buying and selling decisions.

Cardano (ADA) has reached a psychological support level of $0.30. This level is significant because it is the price at which ADA was traded most in the year 2022. The recent decline in the price of ADA has caused some investors to worry that the coin may fall below this level. But since the whales are accumulating the ADA,it is speculated that the price will likely to rally in future.

Read Also: Cardano (ADA) Price Analysis for September 19 : Market Sees Mixed Signals

Although Psychological support level is an indicator to market sentiments and price of ADA but there are certain other factors also, which should be considered

  • The market sentiments of overall cryptocurrency market
  • The release and announcements of new Cardano projects.
  • The adoption of Cardano by various institutions and businesses.
    The performance of other cryptocurrencies, such as Ethereum and Solana. 
Read Also:  Cardano (ADA) Remains in Consolidation Phase: Is a Price Breakout Imminent?

Investors can view this as an indicator but must make careful investigation and research before taking the further step

For the Latest Crypto News follow the Coinography and Subscribe our YouTube channel or follow us on social media platforms like Twitter, Facebook, Instagram and Linkedin.

You Might Also Like

0 0 votes
Article Rating
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments

Get Latest Updates

Latest News

Web Stories

Latest News

0
Would love your thoughts, please comment.x
()
x
Scroll to Top
Crypto Whale Splurges $10.4 Million on Meme Coin PEPE SOL Price Nearing Support as On-Chain Activity Dips for Solana Penguiana Meme Coin’s Presale Achieves Success, Raising 290 SOL Solana to Bitcoin Bridge, Zeus Network, Set for Debut in Q3 2024 DeFi Lending Leader Aave Unveils V4 Protocol Overhaul MicroStrategy (MSTR) Incurs Losses in Q1 After Digital Asset Impairment Takes Toll Upbit Emerges as Top Five Crypto Exchange, Posing Challenge to Binance, Coinbase Tether’s TON Blockchain Entry Reaches $60M: CEO Content SHIB News: 700M Tokens Burned, Shiba Inu Targets $0.00004 Polkadot Relay Chain Upgrade Plan and 10M DOT Prize Initiative TON Network Surpasses $140M TVL as Toncoin Price Skyrockets Bitcoin Falls Below $60,000 After Israel’s Strike on Iran Ragnarok Joins Web3 via Ronin and Gravity Collaboration Worldcoin Announces “Human Centric” Blockchain: World Chain Dubai Flood Spurs Blockchain Life 2024 Airdrop ZachXBT Reveals Frauds on Ethereum Layer-2 Networks Winklevoss Twins Invest $4.5M BTC in Bitcoin Soccer Club VeChain and UFC Unveil Tokenized Gloves Collaboration Web3 Credentials Platform Galxe Goes Live with Mainnet Launch El Salvador’s Newest Hilton Leverages Tokenized Bitcoin Debt