Cardano Price Technical Analysis ADA/USD Bearish Below $0.20

Cardano Price Technical Analysis  ADA/USD Bearish Below $0.20

Key Highlights


ADA price faced a strong selling interest near $0.2240 and declined against the US Dollar (tethered).
There was a break below a crucial ascending channel with support at $0.2060 on the hourly chart of the ADA/USD pair (data feed via Bittrex).
The pair is currently holding the $0.180 support level, but it remains at a risk of more declines.

Cardano price is showing a few bearish signs against the US Dollar and Bitcoin. ADA/USD could continue to move down if it breaks the $0.1800 support level

Cardano Price Downside Break

There was a decent upside earlier this week above $0.1800 level in ADA price against the US Dollar. The price traded above the $0.2000 and $0.2200 level. However, it faced a strong selling interest near the $0.2240 and $0.2250 levels on the upside. A short-term top was formed at $0.2244 and the price started a downside move. It traded lower and broke the 23.6% Fib retracement level of the last wave from the $0.1233 low to $0.2244 high.

More importantly, there was a break below a crucial ascending channel with support at $0.2060 on the hourly chart of the ADA/USD pair. The pair tumbled and broke the $0.1900 level. It settled below the $0.200 level and the 100 hourly simple moving average. It is currently testing the $0.1800 support area and remains at a risk of more losses. On the downside, below $0.1800, the next support is around the 50% Fib retracement level of the last wave from the $0.1233 low to $0.2244 high.


On the upside, the broken support at $0.2000 and the 100 hourly SMA are likely to act as a hurdles. Above $0.2000, the price move above the $0.2200 level to challenge $0.2240 and $0.2250.

Hourly MACD The MACD for ADA/USD is now back in the bearish zone.

Hourly RSI The RSI for ADA/USD is currently recovering higher from the 35 level.

Major Support Level $0.1800

Major Resistance Level $0.2000

Charts courtesy Trading View

23.03.2018 / 01:10 41
Cardano Price Technical Analysis  ADA/USD is Bullish Again Cardano Price Technical Analysis
Key Highlights ADA price started a nice upside move and traded above the $0.2000 level against the US Dollar (tethered). There is a major ascending
Cardano Price Technical Analysis  ADA/USD Facing Crucial Resistance Cardano Price Technical Analysis
Key Highlights ADA price after a sharp decline below $0.20 found support near $0.1250 against the US Dollar (tethered). There was a break above a key
Cardano Price Technical Analysis  ADA/USD Remains at Risk Cardano Price Technical Analysis
Key Highlights ADA price declined sharply and is currently trading well below the $0.20 level against the US Dollar (tethered). There is a short-term
Cardano Price Technical Analysis  ADA/USD Could Test $0.25 Cardano Price Technical Analysis
Key Highlights ADA price is slowly rising higher and is currently trading above the $0.2100 support against the US Dollar (tethered), but faced
Cardano Price Technical Analysis  Can ADA/USD Break This? Cardano Price Technical Analysis Can
Key Highlights ADA price recovered from the $0.1850 swing low against the US Dollar (tethered), but faced sellers near $0.2230. There was a break
Cardano Price Technical Analysis  ADA/USD Tumbles Below $0.20 Cardano Price Technical Analysis
Key Highlights ADA price declined further and it even failed to hold the $0.20 support against the US Dollar (tethered). There is a crucial bearish
Comments (0)
Add a comment
Comment on