Cardano/Bitcoin pair witnessed a gigantic rally hitting the ATH during the previous year’s trade. However, the pair quickly shed all its gains and reached its initial levels within a couple of months, and are currently hovering around similar levels. The plateaued price levels indicate a healthy accumulation of strength which may ignite yet another notable rally in the upcoming days.
Cardano/Bitcoin(ADA/BTC)/USDT Technical Analysis at a Glance
ADA/BTC had a shaky beginning of the yearly trade 2022 by undergoing constant ups and downs. Yet the asset managed to maintain a notable uptrend since the beginning of the present week. No doubt, it also experienced a notable pullback, yet is attempting to prevent further slippage with a strong flip. Moreover, the technicals do point out towards the rally going parabolic once certain levels are attained.
|Short-Term||ADA/BTC price appears relatively bullish as the asset is surging since the early trading hours and may attempt to close the daily trade on a bullish note.|
|Mid-Term||After a decent upswing, the price is currently facing minor exhaustion yet the buyers appear to be pretty strong to uplift the price above the daily highs.|
|Long-Term||ADA/BTC is consolidating heavily yet experiencing a lack of momentum to break the accumulation.|
Cardano/Bitcoin(ADA/BTC) Technical Indicators & Pivot Points
|Technical Indicators||Value(1Hr / 1D)||Action (1Hr / 1D)|
|StochasticRSI(StochRSI)||82.5 / 87.8||Overbought / Overbought|
|MACD(12, 26)||0.00 / 0.00||Neutral / Neutral|
|Average True Range (ATR)||0.00 / 0.000||High Volatility / High Volatility|
|Bull-Bear Power||0.0001 / 0.0001||Buy / Buy|
|Moving Average(MA)-50||0.00002947 BTC||0.00002810 BTC|
|Moving Average(MA)-200||0.00002862 BTC||0.00003803 BTC|
|Resistance||0.00003091 BTC||0.00003113 BTC|
|Support||0.00002699 BTC||0.00002534 BTC|
The ADA/BTC price despite being swinging within narrow braces currently, appears to be pretty bullish in the short-term as well as in the long term. StochRSI is in overbought positions hence indicating a minor retracement soon which could be a short-lived one. While MACD does not showcase any pressure built over the platform and hence signaling the current consolidation to be carried out for some more time.
On the other hand, the Average True Range(ATR) that records the market sentiments, indicates the asset to possess a high volatility rate in both the short & long term, however, the direction of the price movement remains misty. Additionally, the Bull-Bear power which indicates the strength of bulls and the bears, indicates the bulls being in a favorable condition in both the short and long term.
Coming to the pivot points, the current ADA/BTC price is very close to the 50-day MA levels. The resistance at 0.00003091 can be achieved as the asset clears the 50-day MA and later at the 200-day MA in the short term. However, in the long term, the levels are quite distinct and hence a huge influx of buying volume is required to mount up buying pressure over the platform.
Cardano/Bitcoin(ADA/BTC)/USDT Technical Analysis for the Week
The Cardano/Bitcoin price after an extended accumulation within narrow regions is utilizing all its resources to breach the upper limits. The price in the short term manifests a strong bullish trend as it reaches the apex of the consolidation. Currently, the asset is attempting to break through the upper resistance levels, yet the bears also appear to be pretty active at the moment.
Source: Tradingview Date: 14-01-2022 Time: 5:30 pm
- The ADA/BTC price in the long-term manifests huge probabilities of surging high with huge bullish momentum in the upcoming days
- The price flipped from the lower support levels each time it touched these levels, while currently, the price initiated with a rebound much above the support levels manifesting its tendency to spike high
- Ever since the asset smashed its highs around 0.00006 BTC, it fell into a deep bearish trap forming a descending triangle, yet maintained the support levels pretty strong. However, the price since the past couple of days is attempting to range high to break through the triangle strongly.
- The asset is expected to break the upper resistance levels of the triangle after consolidating for another day or two and quickly hit the immediate resistance levels.
- Yet, on the other hand, Bitcoin price has again showcased immense weakness and hence the altcoins paired with BTC are expected to build immense strength
Cardano/Bitcoin(ADA/BTC)/USDT Technical Analysis for Today: 14 January 2022
The ADA/BTC since the beginning of the present week manifested extreme bullish momentum and gained nearly 15% of the value. No doubt the price faced a minor rejection, yet the bulls uplifted the price to its initial levels. Currently, the bears appear pretty strong as they continue to extract their profits dragging the price down by nearly 5%.
The buying pressure remains on the higher side and hence the asset could visit the immediate support levels. And this is when the bull may enter the ring to ignite a strong flip. However, the flip may not ignite a bull run, yet assist to get much closer to the upper resistance levels. Therefore, the consolidation which includes notable ups and downs may continue in the next couple of days or throughout the weekend.
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