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Guy, a well-known cryptocurrency expert, gave some insight into the Cardano Blockchain’s long-term prospects in the midst of the current global crypto market crisis. Guy confirmed that the future of Cardano is based on its approaching milestone, although he was unable to guarantee that the market will see any short-term rallies this season.
Key Cardano Levels To Watch – December 16
The Ethereum Virtual Machine (EVM) side chain, Hydra, whose major objective is to enable significant expansion for the Cardano network, and Voltaire, a system that provides every network participant the chance to vote and have a say in the Blockchain project, are some of the milestones for Cardano.
The market’s order flow is typically bearish, with the market being characterized by breaks of structure (BOS) to the downside. ADAUSD recently breached the 0.2950 support level. Before the breach, the trading range was defined by the 0.4380 and 0.2950 price levels.
The Moving Average Convergence Divergence has been below the zero line since August this year, which indicates that the bears are in total control of the market. Considering the just-concluded trading range, either of the two bearish order blocks is capable of causing a resumption of the market’s downtrend.
Binance Coin Key Levels
Resistance Levels: $0.5950, $0.4380, $0.3290
Support Levels: $0.2950, $0.2420, $0.2000
Total Market Capitalization: $822.69B
Cardano Market Capitalization: $9.82B
Cardano Volume: $0.31B
Market Rank: #9
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