Get most of the Cardano (ADA) AUD Price analysis with interactive analytical tools. Chart references ADA Australian Dollar (or AUD) pair price from Kraken exchange.
About Cardana (ADA):
Cardano is a Proof-Of-Stake blockchain platform that aims to bring together changemakers, innovators, and visionaries to create positive global change. Unlike many other blockchains, Cardano does not rely on technical foundations taken from Bitcoin or other cryptocurrency systems. Instead, the Cardano team works with world-leading academics on fundamental research, most of which is subject to academic peer review.
Founded in 2017, Cardano blockchain native token ADA is designed to give the ability for network participants to present Cardano improvement proposals that can be voted on by ADA holders. Cardano products and solutions include Retail goods anti-counterfeiting, issuance of academic certifications, supply chain tracking, and fresh produce tracing, etc.
Helpful Cardano (ADA) AUD Technical indicators:
Technical Analysis through the use of charts or volume helps to forecast future price trends, however, do remember always that analysis can’t make absolute predictions about the future. Therefore, trade with caution.
The following are some of the technical indicators which could be useful for anticipating the most likely ADA/AUD price movement.
Moving average convergence divergence (MACD)
MACD is calculated by subtracting the 26-period Exponential Moving Average (EMA) from the 12-period EMA. The result of that calculation is the MACD line. A nine-day EMA of the MACD called the “signal line”, is then plotted in addition to the MACD line which together functions as a trigger for Cardano (ADA)/AUD pair buy and sell.
Traders may buy the Cardano (ADA) when the MACD crosses above its signal line (orange line) and sell or short the Cardano (ADA) when the MACD (blue line) crosses below the signal line.
Another MACD strategy is to look at which side the MACD lines are on. Either, above zero for a sustained period of time, and the trend is likely up, or below zero for a sustained period of time, and the trend is likely down. Potential buy signals occur when the MACD moves above zero, and potential sell signals when it crosses below zero.
Relative Strength Index (RSI)
RSI is an indicator that evaluates overbought or oversold conditions in the price of an asset. The RSI is a line graph that moves between two extremes and has a reading from 0 to 100.
Traditional usage of the RSI is that:
- Values of 70 or above indicate that an asset is becoming overbought and may be primed for a trend reversal or experience correction in the Cardano (ADA) AUD price.
- An RSI reading of 30 or below indicates an oversold or undervalued condition.
Moving Average (MA) of Cardano (ADA) AUD Price
MA is the average of the closing AUD price of an asset – Cardano (ADA) over a given number of periods. The 200-day simple moving average is one of the most-watched activities in the price charts by mostly all experienced traders. There are two basic signals in relation to the moving average:
- If the price is above the X day SMA, this signals a bullish movement.
- If the price is below the X day SMA this signals a bearish movement.
Cardano (ADA) AUD Price MA(50,200) Crossovers
Another important signal that these moving averages send is a crossover between the 50-day and the 200-day moving averages.
- Essentially, a bullish crossover (the 50-day MA crosses above the 200-day MA) is called a golden cross and it signals that a new bullish Cardano (ADA) AUD price trend is starting.
- A bearish crossover (where the 50-day MA crosses below the 200-day MA) is known as the death cross. This is a sign that a bear market may be starting.
On-balance volume (OBV)
OBV is another technical trading momentum indicator that uses volume flow to predict changes in the asset price. Ideally, the volume should confirm trends. A rising price should be accompanied by a rising OBV; a falling price should be accompanied by a falling OBV.
- OBV is rising and the price isn’t, the price is likely to follow the OBV and start rising.
- Cardano (ADA) AUD price is rising and OBV is flat-lining or falling, the price may be near the top.
- Cardano (ADA) AUD price is falling and OBV is flat-lining or rising, the price could be nearing the bottom.
Chart Patterns
- Head and Shoulders
- Cup and Handle (bullish)
- Triangles (Symmetrical, Ascending (usually bullish) and Descending)
- Double top and bottom [M (bearish) and W (bullish)]
- Triple Tops (bearish) & Bottoms (bullish)
