Cardano Price Analysis: ADA/USD Could Test $0.1100

2018-6-29 11:00

Key Highlights ADA price is under heavy pressure and is currently trading well below $0.1300 against the US Dollar (tethered). There is a crucial bearish trend line formed with resistance at $0.1210 on the hourly chart of the ADA/USD pair (data feed via Bittrex). The pair is likely to continue its downside move towards the $0.1100 support level in the near term.

Cardano price extended its slide against the US Dollar and Bitcoin. ADA/USD remains at a risk of more losses towards the $0.1100 and $0.1000 levels.

Cardano Price Analysis

There was a minor upside move above the $0.1250 level recently in ADA price against the US Dollar. The ADA/USD pair traded towards $0.1300, but it failed to gain upside momentum. As a result, there was a downside reaction and the price declined below the $0.1200 support. The drop was such that the price traded to a new monthly low below $0.1140 and is currently trading well below the 100 hourly simple moving average.

A low was formed at $0.1132 and the price is currently correcting higher. An initial resistance is near the 38.2% Fib retracement level of the last decline from the $0.1287 high to $0.1132 low. However, the most important resistance is near the $0.1210 level. There is also a crucial bearish trend line formed with resistance at $0.1210 on the hourly chart of the ADA/USD pair. It coincides with the 50% Fib retracement level of the last decline from the $0.1287 high to $0.1132 low. Therefore, any upside move from the current levels is likely to face sellers near $0.1210.

The chart indicates that the price is clearly in a major downtrend below $0.1500. More losses are likely towards the $0.1100 and $0.1000 support levels in the near term.

Hourly MACD – The MACD for ADA/USD is gaining pace in the bearish zone.

Hourly RSI – The RSI for ADA/USD is near the oversold levels with no major sign of a recovery.

Major Support Level – $0.1100

Major Resistance Level – $0.1210

The post Cardano Price Analysis: ADA/USD Could Test $0.1100 appeared first on NewsBTC.

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Источник: newsbtc.com

ada price → Результатов: 17


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Will ADA Break Out Above 1500 Satoshis?

The Cardano (ADA) price has been increasing since March and doing so at an accelerated rate since June. The price is currently correcting, after which the upward move should resume. Long-Term ADA Movement The weekly chart for ADA shows a double bottom combined with significant bullish divergence on the weekly RSI from August 2019 – […] The post Will ADA Break Out Above 1500 Satoshis? appeared first on BeInCrypto.

2020-7-21 20:29


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