The cryptocurrency market is looking green as the bull flag pattern is returning to the market. Today’s cryptocurrency market is characterized by a very high hike in the price and a huge upside momentum. All the cryptocurrencies have recovered from the swing lows and are looking to push it up even further. Today turns out to be a memorable one as it rescued the market from a long-held bearish sign. Analysts are of the opinion that this trend for the market will continue until the end of this month and the market capital would have had a huge gain. The investors are keeping the bull market alive as there is buying pressure for almost all the coins.
Our sentiment analysis segment provides you with sentiments from across the world which include expert opinions on the current market trends. This information is gathered by interviewing a group of investors, miners, skeptics, influencers and recording their valuable comments as it is. The worldwide sentiments are made available in order to ensure an awareness of the market for our readers. This analysis will be on Cardano [ADA] which is currently at the 7th spot.
With a 17.93% gain in the last 24 hours, Cardano, at 3:00 PM UTC, was priced at $0.188 with a market capital of $4.891 billion. During the breakout, the coin peaked to an intraday high of $0.197, precisely at 1:04 PM UTC, but failed to get past the $0.20 mark. The coin’s inability to break the resistance is a matter of concern for the community. However, yesterday’s closing price of $0.166 has been surpassed and the coin is placed above the support level. Cardano started the day with an intraday low of $0.15.
Charlie Thompson, an altcoin miner from Liverpool says:
“Cardano was seen to be breaking the major resistance level and as a result there was a hike in its price. On top of that the 50 EMA, 100 EMA and 200 EMA were seen to be stacking and pulling each other up and to the right. So better HODL folks and if you still feel bearish, I leave the judgement to you.”
Aron Brown, a Cardano investor from Amsterdam says:
“There is a buying wall formed on the exchanges for Cardano and they will help in further hikes. That will be a monster bull run as the prices will break $0.20 and go up. The updates on IELE virtual machine and many more like paper wallets will be a nice addition to the price hikes.”
Helen Martin, a financial advisor from Cleveland says:
“A symmetrical triangle formation was the indication for a bullish break out. The target was set at $0.22 but the coin could not reach it. However a bearish trend was also expected but as the Bitcoin prices rose, so did the price of Cardano. Many are taking this opportunity to sell their Cardano coins.”
To conclude, 57% of Cardano respondents feel bullish and the only thing that they are looking out for is the coin to go up and above $0.20 which they feel will happen within a span of one day. Another 43% of Cardano respondents are not satisfied with the coin’s trends and are looking to sell the coin at the most opportune moment.