TRENDING:
UK CPI
Oil price
XAU/USD
EUR/USD
GBP/USD
Silver
Sponsored by
Login
|

Cardano Price Analysis: ADA/USD charts bearish cross pattern

  • ADA/USD bulls push back price inside the 20-day Bollinger Band.
  • The Elliott Oscillator has had 32 red sessions out of the last 33, showing overall bearish sentiment.
Cardano Price Analysis: ADA/USD charts bearish cross pattern
Rajarshi MitraRajarshi MitraIndependent Analyst

ADA/USD daily chart

ADA/USD daily chart

ADA/USD bulls re-entered the market following a heavily bearish Tuesday. The price has gone up from $0.112 to $0.1159. Following this bullish price action, the price was able to re-enter the 20-day Bollinger Band, showing that ADA/USD is no longer undervalued. The Elliott Oscillator has had 32 red sessions out of the last 33, indicating that the overall market sentiment is bearish.

ADA/USD shows strong resistance levels at $0.122, $0.1297 and $0.1329 (SMA 50 and SMA 20). The SMA 50 has crossed above the SMA 20 to chart the bearish cross pattern. On the downside, we have two healthy support levels at $0.1009 and $0.112. 

Author

Rajarshi Mitra

Rajarshi Mitra

Independent Analyst

Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.

More from Rajarshi Mitra
Share:

Editor's Picks

XRP consolidates as inflows and volume climb

XRP consolidates as inflows and volume climb

Ripple (XRP) retains a slightly bullish outlook on Wednesday despite logging a minor correction from the supply range near $1.15. The remittance token is down 0.5% on the day, reflecting a broader cryptocurrency market drawdown, primarily driven by persistent geopolitical tensions between the United States (US) and Iran in the Middle East.
Bitcoin Price Prediction: BTC recovery holds as ETF inflows persist

Bitcoin Price Prediction: BTC recovery holds as ETF inflows persist

Bitcoin (BTC) trades slightly lower around $66,000 on Wednesday as tensions in the Middle East escalate further. Still, the Crypto King is up over 2.5% so far this week.
South Korea crypto volumes shrink as retail investors shift to stocks

South Korea crypto volumes shrink as retail investors shift to stocks

South Korea’s major crypto exchanges have seen their trading activity fall sharply over the past year as the country’s stock market surged, suggesting retail speculative interest may be shifting toward equities, Cointelegraph analysis shows.
Hyperliquid, Robinhood could lead crypto’s next bull market as DeFi and TradFi converge

Hyperliquid, Robinhood could lead crypto’s next bull market as DeFi and TradFi converge

The next crypto bull market could be driven by the growing convergence between blockchain-based financial infrastructure and traditional finance, according to Bitwise CIO Matt Hougan. In a report published late Tuesday, Hougan argued that crypto may be showing early signs of a market bottom, with Bitcoin gaining 9% since July 1 even as the NASDAQ 100 declined 6%.

Bitcoin’s potential recovery in the second half hinges on these 4 catalysts

Bitcoin’s potential recovery in the second half hinges on these 4 catalysts

Bitcoin (BTC) has fallen over 34% in the first half of this year as the King Crypto failed to capitalize on a good semester for risk assets despite the woes from the Iran war.