analytics1_1
Cardano has the potential for a correction to test its pivot level in the near future. Friday, August 08, 2025.
Cardano has the potential for a correction to test its pivot level in the near future. Friday, August 08, 2025.
Crypto-currencies
2025-08-08 05:39:43
Cardano – Friday, August 08, 2025.
With the EMA(50) positioned above the EMA(200) and the RSI(14) indicator in Extreme-Bullish conditions, it appears that buyers are currently dominant. However, the appearance of divergence in the RSI(14) indicates the potential for a weakening correction in the near future.
Key Levels
1. Resistance 2: 0.79797.
2. Resistance 1: 0.78326.
3. Pivot: 0.75820.
4. Support 1: 0.74349.
5. Support 2: 0.71843.
Tactical Scenario
Positive Reaction Zone: If the price of this cryptocurrency successfully breaks through and closes above 0.78326, it is highly likely to continue strengthening to 0.79797.
Momentum Extension Bias: If the 0.79797 level is successfully broken through and closes above it due to favorable volatility and momentum, then Cardano has the potential to continue strengthening to 0.82303.
Invalidation Level / Bias Revision
The upside bias weakens if Cardano corrects and falls below 0.71843.
Technical Summary
EMA(50): 0.7637.
EMA(200): 0.7450.
RSI(14): 70.04.
Fundamental Factors Influencing Cardano Price Movements:
The Cardano community recently approved the allocation of USD $70-71 million in on-chain development funds from the Treasury, which will support the Cardano ecosystem, scaling, and future functionality.
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