{"id":30391,"date":"2022-09-28T10:43:04","date_gmt":"2022-09-28T10:43:04","guid":{"rendered":"http:\/\/egrowonline.com\/?p=30391"},"modified":"2022-09-28T10:43:04","modified_gmt":"2022-09-28T10:43:04","slug":"a-sweep-of-the-summer-lows-in-the-making","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=30391","title":{"rendered":"A sweep of the summer lows in the making"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div id=\"fxs_article_content\">\n<ul>\n<li><strong>Cardano price continues to coil in triangular fashion.<\/strong><\/li>\n<li><strong>The bulls have been rejected from the 8-day exponential moving average.<\/strong><\/li>\n<li><strong>Invalidation of the bearish thesis is a settle above $0.47.<\/strong><\/li>\n<\/ul>\n<p>Cardano price congestive nature continues during the final week of September. Despite the rest of the market experiencing volatile moves this week, Cardano price has been quite stagnant.<\/p>\n<h2 class=\"fxs_headline_medium\"><strong>Cardano price points south<\/strong><\/h2>\n<p>]Cardano price currently auctions at $0.44 as the bears have prompted a 4% drop in market value. The decline places the ADA price back below the 8-day exponential moving average,\u00a0 although ADA still hovers above supportive territory on the Relative Strength Index.\u00a0 The RSI has been known to be a lagging indicator <a target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/#:~:text=Cardano%20Price%20Prediction%3A%20224,CRYPTO%20NEWS\" rel=\"noopener\">during pivotal moments<\/a> in the market.\u00a0<\/p>\n<p>Traders should entertain the idea of a \u2018sweep the lows\u2019 event targeting the May 11 lows at $0.40 in the coming days. Such a move could bring a large influx of <a target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/cryptocurrencies\/news\/cardano-price-prediction-adas-final-decline-before-the-mother-of-all-bull-runs-occurs-202209162203\" rel=\"noopener\">volatility<\/a> to the market as breakout bears likely have orders near the region in anticipation of a sharp triangle breakout. The influx of liquidity could resolve the mundane price action Cardano experienced throughout the <a target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/cryptocurrencies\/news\/will-cardano-price-finally-show-its-cards-202205261759#:~:text=price%20shows%20bullish-,confluence,-on%20the%20Relative\" rel=\"noopener\">summer<\/a>.<\/p>\n<p><a target=\"_blank\" href=\"https:\/\/editorial.fxstreet.com\/miscelaneous\/ADAUSDT_2022-09-27_17-08-05-637999140585694474.png\" rel=\"noopener\"><img decoding=\"async\" alt=\"tm\/ada\/927\/22\" src=\"https:\/\/editorial.fxstreet.com\/miscelaneous\/ADAUSDT_2022-09-27_17-08-05-637999140585694474.png\" style=\"width: 650px;height: 407px\" \/><\/a><\/p>\n<p><strong><small>ADA USDT 1-Day Chart<\/small><\/strong><\/p>\n<p>Invalidation of the bearish thesis is a daily close above the 21-day simple moving average currently positioned at $0.47. A hurdle of this <a target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/cryptocurrencies\/news\/will-cardano-price-finally-show-its-cards-202205261759\" rel=\"noopener\">magnitude<\/a> could trigger a buyers frenzy with a unified goal of taking out the September high at $0.52. Said price action would result in a 19% increase from the current Cardano price.\u00a0<\/p>\n<p><strong>In the following video, our analysts deep dive into the price action of Cardano, analyzing key levels of interest in the market. -FXStreet Team<\/strong><\/p>\n<div class=\"youtube_cke fxs_external\">\n<div class=\"jeg_video_container jeg_video_content\"><iframe loading=\"lazy\" title=\"Cardano price waits for better market conditions to revisit $0.505\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/YQ2WjU07e0E?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/div>\n<\/div>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<\/p><\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/www.fxstreet.com\/cryptocurrencies\/news\/cardano-ada-price-prediction-a-sweep-of-the-summer-lows-in-the-making-202209272239\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cardano price continues to coil in triangular fashion. The bulls have been rejected from the 8-day exponential moving average. Invalidation of the bearish thesis is a settle above $0.47. Cardano price congestive nature continues during the final week of September. Despite the rest of the market experiencing volatile moves this week, Cardano price has been [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":716,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[44],"tags":[1439,1131,8005,6100],"class_list":["post-30391","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ada","tag-lows","tag-making","tag-summer","tag-sweep"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2021\/11\/cardano_Large.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/30391","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=30391"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/30391\/revisions"}],"predecessor-version":[{"id":30392,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/30391\/revisions\/30392"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/716"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=30391"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=30391"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=30391"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}