$ADA's 50-day moving average has moved under the 200-day moving average, confirming an ominous-sounding technical analysis pattern called 'death cross.' Reports godbole17.
An ominous-sounding technical analysis pattern called"death cross" has appeared on the daily price chart of Ethereum competitor Cardano's ADA token.
The moving average crossovers are backward-looking and considered unreliable as standalone indicators. That said, the latest death cross is consistent with the dour regulatory outlook for ADA and alternative cryptocurrencies , in general. "If the SEC ultimately prevails , altcoin issuers and liquidity providers will face unprecedented difficulties," Matt Hu, CEO of crypto asset management firm Blofin, said in a report published over the weekend.
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