Cardano, Terra, Polkadot
2/3
Investing.com – Cardano, and fell together on Tuesday, Feb. 8, 2022. fell 0.76% to $1.1799, fell 2.38% to $56.02 and fell 3.03% at $21.43.
Is the Cardano recovery sustainable?
General interest in Cardano seems to be growing if we take the rise of wallets in 2022 as an indicator. Between January 1 and February 7, the number of wallets increased by 13% to more than 3 million.
On the 4-hour chart, ADA has formed an ascending trend channel. If it deviates towards the 23.6% Fibo support at $1.0949, it could already mark the end of the recovery.
Only by breaking above the resistance of the 50 percent Fibo retracement of 1.2834 can we hope for a continuation of the recovery towards 1.3677 dollar.
Is Terra really investing $38 million in sponsorship?
In recent days, the Terra community has come up with proposals for which US sports leagues it would be a good idea to take on sponsorship in order to raise awareness of Terra as a brand.
A total of $38.15 million is expected to be made available for a five-year contract.
Is the polkadot already on the decline?
The recent rally in the polkadot has reached the upper end of the downtrend. The resistance was so significant that a rebound occurred and took price back below the 50% Fibo retracement of $22.20.
At the same time, a negative divergence has occurred (blue arrows). As the price formed a higher high, the RSI formed a lower high, indicating weakening momentum.
The next support is at $20.70, at the 38.2% Fibo retracement.
By Marco Oehrl
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