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Cardano "ADA" Technical Analysis | 19 August 2019

2019-08-19 08:11 am | Resource: Technical Analysis Section | No Views : 28

Cardano The digital currency Cardano (ADA) against USD at the end of last month's trading failed to penetrate the resistance areas of $ 0.0602 due to weak demand, thus fell towards $ 0.0472 during last week's trading.
The cryptocurrency rebounded from these levels towards $ 0.0529, which fell to break the support areas of $ 0.0478, and continued to bleed until the areas of $ 0.0445, which bounced during Friday's trading towards the $ 0.0512 areas achieved yesterday evening.
Cardano "ADA" Technical Analysis | 19 August 2019
Crypto is trading through a bullish trend that is being formed over the 240 minute interval.

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

The adx indicator indicates the weakness of the current uptrend due to trading below 30 pips.
The Simple Fast Moving Average and the Slow Simple Moving Average are currently bullish.
The MACD torque indicator with default settings is bullish and indicates bull momentum is increasing over time.

Outlook:

It is expected that, in case of the digital currency break region of $ 0.0461, Cardano "ADA" may target the level of $ 0.0429.
On the other hand, Cardano "ADA" breach of $ 0.0512, the cryptocurrency would have target $ 0.05484 zones.
Support: 0.0478- 0.0429- 0.035
Resistance: 0.05132- 0.0602- 0.0650
Trend: Up

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