Home Cardano Technical Analysis: ADA/USD retreats after crossing $1 psychological level
Crypto News

Cardano Technical Analysis: ADA/USD retreats after crossing $1 psychological level

FX Street
Updated:
  • ADA/USD bears took control this Saturday following a bearish Friday.
  • Both MACD and Elliott Oscillator shows increasing bullish sentiment.

Cardano daily chart

ADA/USD daily chart

ADA/USD bears gained control of the market following a hugely bullish Friday. The price has currently gone down from $0.966 to $0.962. This Friday, the price managed intraday highs of $1.025, reaching its 2020 all-time high. However, since then, the market has been on full retreat mode. Both MACD and Elliott Oscillator shows increasing bullish sentiment.

Support and Resistance

ADA/USD faces strong resistance at $0.097. On the downside, the price has healthy support at $0.093, $0.089, $0.0829 (SMA 20) and $0.0743 (SMA 50).
 

FX Street

FX Street

FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions.

WARNING: The content on this site should not be considered investment advice and we are not authorised to provide investment advice. Nothing on this website is an endorsement or recommendation of a particular trading strategy or investment decision.  The information on this website is general in nature, so you must consider the information in light of your objectives, financial situation and needs. Investing is speculative. When investing your capital is at risk. This site is not intended for use in jurisdictions in which the trading or investments described are prohibited and should only be used by such persons and in such ways as are legally permitted. Your investment may not qualify for investor protection in your country or state of residence, so please conduct your own due diligence or obtain advice where necessary. Crypto promotions on this site do not comply with the UK Financial Promotions Regime and is not intended for UK consumers. This website is free for you to use but we may receive a commission from the companies we feature on this site.

© forexcrunch.com All Rights Reserved 2017 – 2024