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Cardano "ADA" Technical Analysis | 18 July 2019

2019-07-18 09:15 am | Resource: Technical Analysis Section | No Views : 102

Cardano Cardano (ADA) against USD with a breach of resistance areas of 0.07105 $ fell to break areas of $ 0.0656 and continued to fall to break areas of $ 0.0602.
During the week, the digital currency continued to decline until the first support areas, which rebounded towards the areas of 0.0578 $.
Cardano "ADA" Technical Analysis | 18 July 2019 
The Cardano (ADA) is trading through a downtrend on the 240-minute interval at the moment showing signs of weakness on the downside such as failure to break the first support levels of $ 0.05132.
It should be noted that, the technical indicators do not take a specific direction agreed upon, noting that some of them upward and the bottom of the decline while the latter does not take a direction from the ground.

Analysis of technical indicators of the digital currency Cardano (ADA): 

The ADX indicator indicates a decline in the strength of the bearish trend over time.
The simple moving average and the slow moving SMA are neutral because of the overlap with the currency movement.
The index of the momentum of the MACD with the default settings is bullish but without confirming the trading result below the areas of 0.0572 $.

Outlook:

It is expected that, in case of digital currency break area of $ 0.0499, Cardano (ADA) may target the level of $ 0.0429.
On the other hand, in the case of Cardano (ADA) breach of $ 0.0602, the encrypted currency might target $ 0.0676.
Support: 0.05132- 0.0478- 0.0429
Resistance: 0.0602- 0.0650- 0.0710
Trend: Down

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