17.05.202407:37 Forex Analysis & Reviews: Technical Analysis of Intraday Price Movement of Cardano Cryptocurrency, Friday May 17 2024.

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

If we look at the 4-hour chart of the Cardano cryptocurrency, it appears that Cardano's price movement has managed to breaks above EMA 20 & EMA 50, so based on this, in the near future, Cardano has the opportunity to test the level of 0.46277, although there is still a chance for it to be corrected down to the Bullish Fair Value level. The gap will be tested before continuing to strengthen again, which is important as long as the weakening correction does not penetrate below the 0.44481 level, Cardano still has the potential and opportunity to strengthen again to the 0.47663 level.

(Disclaimer)

Arief Makmur
Analytical expert of InstaForex
© 2007-2024

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.

Earn on cryptocurrency rate changes with InstaForex

Download MetaTrader 4 and open your first trade