Cardano Price Analysis: 31 October

[sneakyboi]

Cardano Price Analysis: 31 October

Cardano exhibited a bullish divergence, however, bearish momentum held sway and only a bounce can be expected before a move to the downside.






ADA closed beneath a descending channel (yellow) and also lost a level of support at $0.101. A divergence between the price and momentum indicator, RSI, is highlighted in white. This bullish divergence saw the price bounce off the $0.092 level, and further upside could be possible.

Yet the outlook for the asset remained bearish, and the most recent bounce could reach as high as $0.096 before another drop.

In other news, Cardano rolled out a Goguen release roadmap and demonstrated the ERC20 token converter, allowing tokens on Ethereum to port onto Cardano.



Learn more about the analysis here.

[syedrasool2011]

Thats good but for few days altcoin will dump to much carefull.

[damsix]

It looks like from the chart above that Cardano is trending down in price and it might have a turning point for Pump.
Cardano is trusted by various investors for the future with transactions that are so fast and surely it will have a good price when Bitcoin hits the price in 2020?