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Cardano Price Outlook: ADA/USD bears remain in control of the market following $0.1482 rejection

Cardano Price Outlook: ADA/USD bears remain in control of the market following $0.1482 rejection
Rajarshi MitraRajarshi MitraIndependent Analyst

ADA/USD daily chart

ADA/USD daily chart

ADA/USD is currently priced at $0.138 as the bears retain control over the market. This Monday, the price encountered resistance at the $0.1482 and fell down. The MACD shows sustained bullish momentum, while the Elliott Oscillator has had four straight green sessions. These indicate that despite bearish price action, market sentiment remains bullish.

ADA/USD has healthy support levels at $0.132, $0.1277 (SMA 20), $0.117 and $0.1038 (SMA 50).

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.

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