Cardano Price Prediction Today, October 22, 2022: ADA/USD Attempts a Pullback

Buyers in the ADA/USD market are attempting to break price downward movement. However technical indicators applied in the study of this market are somewhat divergent. Therefore this calls for a close-up check to be carried out on the market. Additionally, price analysis will also include the ADA/BTC market price action

ADA Analysis Statistics Data:
ADA value now: $ 0.3405
Cardano market cap: $11.84 billion
ADA moving supply: 34.30 billion
The Total supply of ADA: 35.05 billion
Cardano’s Coinmarketcap ranking: #8

Crucial Price Levels:
Resistance: $0.3405, $0.3455, $0.3485
Support: $0.3380, $0.3350, $0.3320

Cardano Price Prediction Today, October 22, 2022: Downtrend in ADA/USD Market Hits the Break

Price action in the ADA/USD  has to move in a steady but downward path. Also, this move seems to have started almost halfway into September. Furthermore, the mentioned pullback in price movement occurred immediately after the last price candle here tested the fib retracement level 100. Perhaps this is revealing that other trades in this market had anticipated this level as well. If a considerable number of traders have anticipated this level, ADA’s upside correction may be significant and may reach near $0.3914 and beyond.

Cardano Price Prediction Today, October 22, 2022: ADA/BTC Halts Downside Move

Price action in the ADA/BTC market pullback seems to be happening later here, than it did in the ADA/USD market. Furthermore, price candles tore down three fib retracement levels before getting to this point. At this point, the price may retrace its way above the Fibonacci level of 78.60 of price 0.00001809 for a correction. However, the activity on the MACD isn’t yet to reflect the occurrence of a price pullback. Consequently, more effort is needed from the buyers to realize the expected market move. Traders will have to wait for either the ADA/USD market gets better in buying activity to initiate an upward move higher toward 0.00001809. This would have signaled an uptrend and entering traders can hop on.

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