Crypto EcoBlog
Summary:
Cardano (ADA)’s price flashed a ‘Death Cross’ over the weekend – a bearish technical indicator signaling downward price momentum and a potential incoming tailspin. This comes two weeks after the U.S. Securities and Exchange Commission (SEC) sued Coinbase, naming ADA as a security in the process. The Death Cross occurs when an asset’s 50-day simple moving average crosses beneath its 200-day moving average. According to TradingView, nearly all of Cardano’s moving average indicators are flashing a “sell” signal. The last time the asset flashed a death cross, in particular, was in December 2021 – the onset of a year-long downtrend for both Cardano and all of crypto. The asset later flashed its counterpart signal – a ‘Golden Cross’ – in March, as the collapse of numerous
Topics:
Andrew Throuvalas considers the following as important: AA News, ADABTC, ADAUSD, Cardano, Cardano (ADA) Price
This could be interesting, too:
Cardano (ADA)’s price flashed a ‘Death Cross’ over the weekend – a bearish technical indicator signaling downward price momentum and a potential incoming tailspin. This comes two weeks after the U.S. Securities and Exchange Commission (SEC) sued Coinbase, naming ADA as a security in the process. The Death Cross occurs when an asset’s 50-day simple moving average crosses beneath its 200-day moving average. According to TradingView, nearly all of Cardano’s moving average indicators are flashing a “sell” signal. The last time the asset flashed a death cross, in particular, was in December 2021 – the onset of a year-long downtrend for both Cardano and all of crypto. The asset later flashed its counterpart signal – a ‘Golden Cross’ – in March, as the collapse of numerous
Topics:
Andrew Throuvalas considers the following as important: AA News, ADABTC, ADAUSD, Cardano, Cardano (ADA) Price
This could be interesting, too:
Andrew Throuvalas writes The Bitcoin Bear Market May Have Already Started, Signal Shows
Chayanika Deka writes Australia Gears Up for Bitcoin ETF Wave After US, Hong Kong Approvals
Dimitar Dzhondzhorov writes Key Dogecoin (DOGE) Indicator Soars by Almost 15% in 90 Days: Details
Andrew Throuvalas writes How Lazarus Group Cashed Out 0 Million Of Stolen Crypto In Three Years: ZachXBT
Cardano (ADA)’s price flashed a ‘Death Cross’ over the weekend – a bearish technical indicator signaling downward price momentum and a potential incoming tailspin.
This comes two weeks after the U.S. Securities and Exchange Commission (SEC) sued Coinbase, naming ADA as a security in the process.
- The Death Cross occurs when an asset’s 50-day simple moving average crosses beneath its 200-day moving average.
- According to TradingView, nearly all of Cardano’s moving average indicators are flashing a “sell” signal. The last time the asset flashed a death cross, in particular, was in December 2021 – the onset of a year-long downtrend for both Cardano and all of crypto.
- The asset later flashed its counterpart signal – a ‘Golden Cross’ – in March, as the collapse of numerous banks triggered a rush of capital into Bitcoin and other digital assets.
- Though considered unreliable on its own, the death cross arrives just as the SEC filed lawsuits against two of the world’s largest crypto exchanges, Binance and Coinbase.
- In the latter lawsuit, ADA was named a security alongside a dozen other crypto assets, most of which have suffered especially strongly after the case was filed. Since then, ADA is down ~30%, trading for $0.25 apiece.
- The ongoing pressure against altcoins has driven up Bitcoin dominance this month, which reclaimed 50% on Monday for the first time since 2021. Bitcoin billionaire Michael Saylor has predicted that the regulatory crackdown on competing coins could ultimately drive the asset’s dominance beyond 80% in the long term.
