Cardano has been facing continuous selling pressure, with its Relative Strength Index (RSI) now sitting at 36.6. This persistent oversold signal has opened the possibility of a short-term rebound. ADA is trading at $0.816, sliding 1.38% today, and remains below both its MA-20 and MA-50 levels.
However, the coin is still above its MA-200, suggesting long-term support is holding. Meanwhile, investors are turning attention to new crypto opportunities, and Mutuum Finance (MUTM) is being tipped as the next crypto to explode, currently advancing through its presale at Phase 6.
Cardano Showing Oversold Signals
Cardano has been trading under pressure, with its current price at $0.816 and consolidating between $0.792 and $0.816. It remains stuck below key resistance levels, including the Ichimoku Kijun at $0.868, which limits bullish momentum. However, oversold readings across indicators like RSI and CCI are raising hopes of a potential rebound.
Moreover, the odds of a Cardano ETF approval have surged to 92%. Alongside that, the Cardano Foundation has rolled out a new roadmap focusing on DeFi funding and ecosystem growth. Consequently, institutions are keeping interest alive, as reflected in elevated whale transactions and even Reliance Global adding ADA to its treasury.
Despite these encouraging signs, ADA’s short-term path looks uncertain. Forecasts show Cardano consolidating between $0.768 and $0.790 over the coming week, with a low probability of upside movement in the immediate term.
In addition, technical experts warn that a move above $0.868 is crucial before any sustained rebound can take hold. Therefore, ADA holders are stuck waiting for stronger buying activity before optimism can return.
Mutuum Finance Presale Momentum
As ADA struggles for direction, Mutuum Finance (MUTM) is gathering impressive momentum. The presale has already raised $16,300,000 since launch, onboarding 16,570 holders. Phase 6 is currently 50% filled, selling at $0.035 per token, reflecting a 250% rise from the opening presale phase price of $0.01.
Cardano has been facing continuous selling pressure, with its Relative Strength Index (RSI) now sitting at 36.6. This persistent oversold signal has opened the possibility of a short-term rebound. ADA is trading at $0.816, sliding 1.38% today, and remains below both its MA-20 and MA-50 levels.
However, the coin is still above its MA-200, suggesting long-term support is holding. Meanwhile, investors are turning attention to new crypto opportunities, and Mutuum Finance (MUTM) is being tipped as the next crypto to explode, currently advancing through its presale at Phase 6.
Cardano Showing Oversold Signals
Cardano has been trading under pressure, with its current price at $0.816 and consolidating between $0.792 and $0.816. It remains stuck below key resistance levels, including the Ichimoku Kijun at $0.868, which limits bullish momentum. However, oversold readings across indicators like RSI and CCI are raising hopes of a potential rebound.
Moreover, the odds of a Cardano ETF approval have surged to 92%. Alongside that, the Cardano Foundation has rolled out a new roadmap focusing on DeFi funding and ecosystem growth. Consequently, institutions are keeping interest alive, as reflected in elevated whale transactions and even Reliance Global adding ADA to its treasury.
Despite these encouraging signs, ADA’s short-term path looks uncertain. Forecasts show Cardano consolidating between $0.768 and $0.790 over the coming week, with a low probability of upside movement in the immediate term.
In addition, technical experts warn that a move above $0.868 is crucial before any sustained rebound can take hold. Therefore, ADA holders are stuck waiting for stronger buying activity before optimism can return.
As ADA struggles for direction, Mutuum Finance (MUTM) is gathering impressive momentum. The presale has already raised $16,300,000 since launch, onboarding 16,570 holders. Phase 6 is currently 50% filled, selling at $0.035 per token, reflecting a 250% rise from the opening presale phase price of $0.01.
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This story was published as a press release by Btcwire under HackerNoon’s Business Blogging Program. Do Your Own Research before making any financial decision.
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