Cardano (ADA) Price Analysis – February 14

  •  The price of Cardano faces resistance at the $0.04200 price level since February 8.
  •  The crypto's price is likely to reach a previous high of $0.04600 if the price is sustained above the EMAs.

Cardano, ADAUSDCardano Chart By Trading View

ADAUSD Medium-term Trend: Bearish

  • Resistance levels: $0.080, $0.090, $0.100
  • Support levels: $0.030, $0.020, $0.010

Last week, on February 8, the price of Cardano was in a bullish trend zone. The bulls broke the 12-day EMA, the 26-day EMA, and the bearish trend line. The cryptocurrency rose to the high of $0.04200 but the price made a pullback to the low of $0.04000. The pullback was on the 12-day EMA and the 26-day EMA indicating that the price is in the bullish trend zone.

The $0.04200 price level had been a resistance to the price of Cardano since February 8. On the upside, the crypto’s price is likely to rise at the support level of $0.04000, if the price is sustained above the EMAs and the bulls break the resistance at $0.04200. Then the crypto’s price will reach the previous high of $0.0460.

On the downside, if the bears break below the EMAs or the $0.04000 price level, the crypto will fall to either the lows of $0.03800 or $0.03600. The stochastic indicator is out of the overbought region but below the 80% range. This indicates that the price of Cardano is in a bearish momentum and a sell signal.

ADAUSD Short-term Trend: Ranging

Cardano, ADAUSDCardano Chart By Trading View

On the 4-hour chart, the crypto's price is in a bearish trend. The bears break the EMAs to the low of $0.04000. The crypto’s price has been ranging at the $0.04000 price level in the last 48 hours. If the bulls defend this level, the crypto’s price is likely to rise. On the other hand, if the bears break the $0.04000 price level, the crypto’s price will depreciate further.

Meanwhile, the stochastic is out of the overbought region but below the 40% range. This indicates that the price of Cardano is in a bearish momentum and a sell signal.

 

 

The views and opinions expressed here do not reflect that of CryptoGlobe.com and do not constitute financial advice. Always do your own research.

Binance Coin (BNB) Price Up Over 8%, Sets Another All-Time High by Going Over $29

According to CryptoCompare, at 10:20 UTC + 01:00 on Sunday (May 19), the price of Binance Coin (BNB) set a new all-time high (ATH) at $29.80, and at press time, it is still trading at $29.36, up 8.66% in the past 24-hour period. 

Below is the 24-hour price chart for BNB:

BNB - 24 Hour CC Chart - 19 May 2019.png

The performance of BNB over the past three-month period is truely impressive: the price has gone up from $10.47 to $29.36 for a gain in value of over 180%.

BNB - 3 Month CC Chart - 19 May 2019.png

This new all-time high comes just three days after the BNB price reached an ATH of $27.39 and four days after Binance confirmed that it had completed its major security upgrade and relaunched its trading platform (following the security break it suffered on May 7).

The main reason for today's strong performance is the upcoming public sale of the Harmony (ONE) token, which was announced on May 16 (one of the main reasons for the previous ATH that was set on that day), and which is set to start at 06:00 UTC on May 27. More specifically, since one of the rule changes for this sale is that Binance is now calculating for each user account the average BNB holding over the holding period (which is calculated by taking the average of the BNB balance at 23:59:59 UTC on each day in the 7-day holding period) and the holding period, as can seen by this reminder from Binance, starts at 23:59:59 UTC on May 19, it is important for all those Binance users who are interested in participating in this token sale to make sure that they have a sufficient number of BNB tokens (minimum is 50) before this deadline: