Cardano (ADA) price falls after five days of price wars between buyers and sellers. The altcoin has fallen, hitting $1.22 low. Prior to the recent downward movement, buyers and sellers were engaged in price wrangling between $1.28 and $1.36.
On July 8, sellers pushed ADA to a low of $1.28, but bulls bought the dips. Cardano’s price corrected upward and reached the high of $1.36. The upward correction tested the recent high three times, but buyers could not sustain the bullish momentum. On July 12, ADA was resisted as price fell sharply to support at $1.30. Today, the market hit a low of $1.22. By all appearances, the downtrend is likely to continue to the low of $1.00 or $1.10.
Analiza indicatorului Cardano
The cryptocurrency has fallen to the 39 level of the Relative Strength Index period 14. This indicates that ADA is approaching the oversold area of the market. However, Cardano is below the 20% area of the daily stochastic. It indicates that the market has reached the oversold region. Buyers are likely to emerge in the oversold region and push prices higher.
Tehnice de indicatori:
Niveluri majore de rezistență - 2.00 USD și 2.20 USD
Niveluri majore de asistență - 1.60 USD și 1.40 USD
Care este următoarea mișcare pentru Cardano?
Cardano is in a downtrend. On July 9, a retraced candlestick body tested the 50% Fibonacci retracement level. The retracement indicates that ADA will fall to the 2.0 Fibonacci extension level or the $1.13 level. Based on the price action, the market has reached a low of $1.22.
Declinare de responsabilitate. Această analiză și prognoză sunt opiniile personale ale autorului și nu sunt o recomandare pentru cumpărarea sau vânzarea de criptomonede și nu ar trebui privite ca o aprobare de către CoinIdol. Cititorii ar trebui să își facă propriile cercetări înainte de a investi fonduri.
