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Cardano "ADA" Technical Analysis | 31 July 2019

2019-07-31 08:47 am | Resource: Technical Analysis Section | No Views : 61

Cardano Cardano (ADA) against USD last week failed to breach the areas of 0.065 $ due to weakness of the buyers' intention and then fell to areas of 0.0538 $.
During Wednesday's trading, the encoded currency rebounded from $ 0.0538 towards the initial resistance areas which are currently failing to break through.
Cardano "ADA" Technical Analysis | 31 July 2019
The digital currency of Cardano (ADA) is neutral at the moment due to the lack of trading through a specific direction, where trading around the resistance zone on the initial interval 4 hours since the first trading days of the week so far.

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

The ADX indicator is neutral with trading below 20 pips.
The simple moving average and the slow moving SMA are neutral as a result of not trading through a specific direction.
The momentum indicator of MACD with the default settings is neutral at the moment due to weak torque of bulls and bears.


It is expected that, in case of digital currency break area of $ 0.0573, Cardano (ADA) may target the level of $ 0.0512.
On the other hand, if Cardano (ADA) breach $ 0.06352, the encrypted currency may target $ 0.0692.
Support: 0.05132- 0.0478- 0.0429
Resistance: 0.0602- 0.0650- 0.0710
Trend: neutral

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