ADA/USD is lingering near unsettling support levels, and speculators who have been trying to seek a reversal higher may be growing uneasy.

ADA/USD is hovering near the 78 cents level as of this writing, and important support levels are within sight.  The broad cryptocurrency market is showing a rather widespread amount of nervous sentiment as many of the major digital assets linger near extremely important mid-term support and many others are within shouting distance of long term junctures.

ADA/USD is remarkably close to both mid and long term support levels. If buyers remain in a non-supportive mode and the price of Cardano continues to erode, ADA/USD could with one swift stroke of volatility suddenly be next to depths it has not traversed since early February of 2021. Current support levels of 77 cents have been flirted with recently and the inability of ADA/USD to provide a solid reversal higher is troubling.

Optimistic speculators who have bought ADA/USD may still be waiting for additional buyers to step into the market, but will they arrive?  Incrementally the trend remains bearish, there is no way to sugar coat this technical viewpoint. While some traders may point to the current depths being tested by ADA/USD as a great opportunity to buy when the price is cheap, others may believe value of Cardano can drop lower.

Traders should expect volatility near term because of the consolidation many of the major cryptocurrencies are displaying near critical support levels.  The uneasy calm in digital assets is unlikely to remain and speculators should be braced for the potential of violent trading. The question day traders need to consider is where the greatest amount of risk and reward can be perceived. Because of the rather weak reversals upward, and the almost daily flirtation with lower values, negative sentiment seems to be the stronger potential impetus.

If the 78 cents ratio fails to be sustained by ADA/USD, traders could not be blamed for thinking lower depths will be explored.  If ADA/USD were to fall below the 0.77550000 mark and not be able to climb above this mark in the near term, it could set off a test of the 77 and 76 cents junctures.

Certainly there will be slight reversals higher, but the question is how much strength these moves will generate. Conservative traders may want to use slight moves upward as a way to ignite their short positions with entry price orders above current market values. Speculators need to understand that if the current quiet market disappears, ADA/USD could become very fast and having risk management ready with stop loss and take profit orders could prove effective.

Cardano Short-Term Outlook

Current Resistance: 0.78480000

Current Support: 0.77350000

High Target: 0.90780000

Low Target: 0.80100000

ETH/USD has not been able to escape the clutches of a bearish trend, which has developed in a strong fashion the past week and a half.

As of this writing, ETH/USD is trading near the 3060.00 level, the cryptocurrency has come off lows seen yesterday when Ethereum approached the 2945.00 price realm. Yesterday’s high of nearly 3086.00 was achieved after the lowest values were tested, but the reversal upwards then ran into stiff headwinds. ETH/USD is now within the grasp of a dangerous price range, and day traders will have to make wise decisions if they plan on wagering.

ETH/USD lows yesterday brought it within sight of values not seen since the 23^rd of March. These values are still above the lows seen in the middle of March when ETH/USD traded near a value of 2500.00 before securing a strong bullish trend higher through the 2^nd to the 5^th of April, when ETH/USD traded above the 3500.00 juncture.

However, the current price of ETH/USD is floating pretty much between the lows seen around the 14^th of March and the highs seen on 3^rd of April. Traders now have to decide if the bullish demonstration achieved simply was a temporary phase and the long term bearish trend will resume in full force. Speculators can also take the view point that what has been experienced in the past week and half of trading has been profit taking and that ETH/USD will be able to climb higher again sooner rather than later.

The broad cryptocurrency market is displaying nervous sentiment.  The downward momentum has not been able to produce a sudden reversal higher with a substantial kick. Perhaps that is a sign of a maturing marketplace, but it also may be a sign that traders who have been burned pursuing upside may not be willing to put their money on the line quite yet. If ETH/USD sustains its current price range in the near term, it may be a signal additional lows will be seen.

Conservative traders may want to wait for momentum to lead the way. By placing a sell order below the current market price, below perceived support levels, speculators may want to simply try and follow the trend towards yesterday’s lower value depths. If the 3035.00 to 3025.00 levels are challenged and made to look vulnerable, pursuing short term trades with a target near the 3000.00 mark may prove to be a worthwhile wager for bearish speculators.

Ethereum Short-Term Outlook

Current Resistance: 3082.00

Current Support: 3032.00

High Target: 3152.00

Low Target: 2925.00

DOGE/USD has jetted lower and is now near extremely important low water marks as nervous sentiment threatens to overtake the cryptocurrency market again.

On the 5^th of April, DOGE/USD was trading near the 18 cents juncture as cryptocurrency traders pushed the broad market higher and Dogecoin to solid gains. DOGE/USD appeared as if a return to speculative bullish markets may gather steam, and the strong wave of positive momentum likely had speculators dreaming about the 20 cents realm again for Dogecoin.

However, the past week of trading has turned sour and support levels clearly have been put under pressure. This weekend saw a return of quick velocity regarding prices and further downside action develop. And in the past day, support levels have been made to look more vulnerable and nervousness has returned to the broad cryptocurrency market. DOGE/USD is now trading near the 13 and half cents ratio as of this writing.

The last time Dogecoin was trading near the 13 cents mark was on the 1^st of April, on 14^th of March DOGE/USD was trading near the 11 cents level. DOGE/USD serves as a barometer for traders if they compare its speculative results to the broad cryptocurrency market. DOGE/USD is not the darling it once was for wagering in cryptocurrencies, having been replaced in many respects by the like of Shiba Inu and some others. However, DOGE/USD certainly reflects behavioral sentiment in the digital assets realm.

The notion now exist technically that DOGE/USD is a reactive cryptocurrency instead of a proactive speculative wagering tool.  This consideration leads itself to the belief that DOGE/USD could be a trade that technical speculators can use to wager on direction they perceive because of the direction that has already been displayed in the broader cryptocurrency sphere. The current price trend has turned negative and the return of nervous sentiment should be strongly considered.

If a speculator believes more fragile trading is about to be generated in the broad crypto market, they may want to be sellers of DOGE/USD near term.  If DOGE/USD breaks below the 13 cents mark in the short term, speculators could not be blamed for believing the 12 and half cent juncture is a legitimate target if downward conditions prevail. DOGE/USD may have additional room to sink if trading conditions in the broad cryptocurrency market do not show positive sentiment soon.

Dogecoin Short-Term Outlook

Current Resistance: 0.13850000

Current Support: 0.13300000

High Target: 0.14400000

Low Target: 0.12050000