- The price of ADA trades below the $0.1000 overhead resistance.
- The ADA/USD pair has reached the oversold region of the market and buyers are expected to emerge.
ADA/USD Medium-term Trend: Ranging
- Resistance Levels: $0.1000, $0.1100 ¸ $0.1200
- Support levels: $0.0800, $0.0700, $0.0600
Yesterday, July 9, the price of ADA was in a bearish trend after breaking below the EMAs. On April 3, the bulls had failed to break the $0.0950 overhead resistance. Each time the bulls tested the $0.095 resistance level, the bulls would be resisted and the price would fall to the EMAs. The crypto’s price is below the 12-day EMA and the 26-day EMA which indicates that price is likely to rise.
On the downside, if the bearish trend is continuing, the crypto’s price will revisit the previous lows of either $0.050 or $0.060. Traders should do a follow up on the bearish trend and find support level where long trades can be initiated. Meanwhile, the price of Cardano is in the oversold region of the daily stochastic but below the 20% range. This indicates that price is a bearish momentum and a sell signal.
ADA/USD Short-term Trend: Bearish
On the 1-hour chart, the ADA price is in a bearish trend. The 12-day EMA and the 26 days EMA are trending southward indicating that price is falling. The crypto’s price is fluctuating below the 12-day EMA and the 26-day EMA. The daily stochastic is in the oversold region but below the 40% range. This implies that price is in a bearish momentum and a sell signal
The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.
Buy, Sell or Swap Any Cryptocurrency at Your Convenience [Powered by Changelly]
GET CRYTOCURRENCY NEWS UPDATE DAILY. SUBSCRIBE BELOW
Bitcoin Market Price Chart in RealTime