Cardano’s (ADA) price is falling after the rejection at the $1.80 overhead resistance. As ADA price falls the downtrend is likely to extend to the low of $1.30. This has been the price action since May 20. This present rejection will imitate the previous price actions of May 20 and 26.
In the previous price action, the market was in a range-bound move between $1.30 and $1.80. As price retraces, the crypto may find support above the moving averages. The upward move will resume if the price finds support above the moving averages. The selling pressure will resume once the price breaks below moving averages. On the upside, if the bulls break the $1.80 overhead resistance, the market will rally to a $2.00 high. However, Cardano will resume a range-bound move, if the bulls fail to break the resistance at $1.80.
Cardano mutató elemzése
Cardano’s price is above the 80% range of the daily stochastic. It indicates that the market has reached the overbought region of the market. Sellers are likely to emerge to push prices down. The crypto has fallen to level 53 of the Relative Strength period 14. ADA is in the bullish trend zone and has room to rally on the upside.
Műszaki mutatók:
Fő ellenállási szintek: 2.00 és 2.20 dollár
Fő támogatási szintek - 1.00 és 0.80 dollár
Mi a következő lépés Cardano számára?
Cardano is in an upward move. Buyers are still struggling to break the resistance at $1.80. Meanwhile, on May 30 uptrend; a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that ADA will rise to level 1.618 Fibonacci extension or level $1.90.
Jogi nyilatkozat. Ez az elemzés és az előrejelzés a szerző személyes véleménye, és nem ajánlás a kriptovaluta vásárlására vagy eladására, és nem szabad a CoinIdol jóváhagyásának tekinteni őket. Az olvasóknak saját kutatásokat kell elvégezniük az alapok befektetése előtt.
