Cardano Price Analysis: ADA/USD Extending Losses

2018-6-22 11:28

Key Highlights ADA price traded further lower and broke the $0.1550 support against the US Dollar (tethered). There is a crucial bearish trend line formed with resistance near $0.1555 on the hourly chart of the ADA/USD pair (data feed via Bittrex). The pair is currently in a downtrend and it could break the $0.1500 support for more losses.

Cardano price failed to recover against the US Dollar and Bitcoin. ADA/USD tumbled and it remains at a risk of more losses below the $0.1550 level.

Cardano Price Analysis

During the past few sessions, there was an increase in selling pressure on ADA price below $0.1660 against the US Dollar. The ADA/USD pair failed to break the $0.1650 resistance and started a downside move. It broke down and cleared the $0.1600 and $0.1550 support levels to settle below the 100 hourly simple moving average. More importantly, the price settled below a key support at $0.1550, opening the doors for more declines.

During the slide, the price surpassed the last swing low near $0.1557. It means the price may perhaps test the 1.236 Fib extension level of the last wave from the $0.1557 low to $0.1708 high at $0.1522. However, if sellers remain in action, there is even a chance of further losses towards the $0.1500 level. Below this, the next support is at $0.1450. On the other hand, if the price corrects higher, it could test the $0.1550 resistance zone. There is also a crucial bearish trend line formed with resistance near $0.1555 on the hourly chart of the ADA/USD pair.

The chart indicates the price is likely to move down further towards the $0.1500 handle. The overall price action is bearish, which is why any recoveries above $0.1555 and $0.1600 may be limited in the near term.

Hourly MACD – The MACD for ADA/USD is moving strongly in the bearish zone.

Hourly RSI – The RSI for ADA/USD has reached the oversold zone with bearish signs.

Major Support Level – $0.1500

Major Resistance Level – $0.1560

The post Cardano Price Analysis: ADA/USD Extending Losses appeared first on NewsBTC.

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ada price usd support cardano pair extending

Источник: newsbtc.com

ada price → Результатов: 10


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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.

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Cardano Price Analysis: ADA/USD Primed for More Gains

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