Cryptocurrencies were having a great time in October, as the sentiment turned quite bullish, after the crackdown was failing to curb this new market. But, the increased pressure from legislators around the world turned the sentiment bearish in the crypto market and cryptocurrencies have been declining during most of November, although the decline might have come to an end, as most cryptos are showing some bullish signals, trying to reverse higher, so let’s see how Terra LUNA and Cardano ADA are behaving.

Terra LUNA Daily Chart Analysis – You Can’t Keep A Good Crypto Down

Terra LUNA has been one of the most bullish cryptocurrencies in recent months, as it climbed from $5 in July to $55 earlier this month. The total value locked (TVL) in DeFi has grown by more than 50% since September, which has helped keep the momentum bullish for this cryptocurrency.

The momentum has diminished somewhat in recent weeks, but buyers remain in charge, as LUNA/USD keeps making higher highs and higher lows. The recent low took place over the retreat of the past few weeks, which seems to be over now. The 100 SMA (green) held as support on the daily chart and over the weekend we saw a bounce off this moving average. So, Terra LUNA seems to be resuming the bullish trend now and the next target now is $60.

Cardano Daily Chart Analysis – Has Resistance Turned Into Support for ADA at $1.50?

Will we see a bounce off $1.50?

Cardano has a great time in August, as it increased from $1 to above $3, ahead of the Alonzo upgrade, which was keeping the sentiment bearish for this crypto. Since then though, ADA has been on a constant downtrend, with the sentiment being quite bearish for this crypto for no particular reason. Founder Charles Hoskinson has been trying to talk ADA higher, suggesting investors look behind the fundamentals which are strong for Cardano, but he hasn’t had much success as the price has continued to slip lower.

The launch of smart contracts with the Alonzo upgrade was supposed to be a positive thing for this crypto, but it hasn’t helped much. Moving averages were providing support for Cardano, but they have been broken one after another. The announcement from eToro that it is delisting Cardano sent the price another leg down and yesterday sellers pierced the previous resistance zone around $1.50. But, there was no break as the price pulled back up and closed the daily candlestick as a hammer, which is a bullish reversing signal. So, this might be the end of the slide of ADA/USD, although let’s see if the price will turn bullish now.

Cardano Coin ADA Live Chart