Cardano Bulls Getting Weak

Cardano Bulls Getting Weak: Price Analysis

Cardano has dropped 10.97% in the last 24 hours. It is currently trading at $.084. Price is trading near the resistance of $.088. ADA is moving way above the trend line. The trend is partially bullish. The trend seems to lose momentum for a while. ADA market is showing indecision. After the correction price level of $.07 can be seen. Global exchange.

RSI is moving toward the oversold zone. RSI is at the value 49.9. Stochastic is also going downward. Price is moving above the trend line. Globalexchange. Ichimoku cloud is indicating a bullish trend in the market. Conversion Line is moving above the baseline. MACD is also showing a decrease in the momentum of the trend.

Strategy

Global exchange. If ADA crosses the resistance of $.088 price level of $.1 can be seen. Chances of correction are more. Price can bounce back from $.071. But the longterm trend seems to be bullish.

Price is moving above the 50MA. If the price crosses the support of $.07 then price level of $.048 can be seen. Globalxchange. To take the trading position wait for the correction to get over. Chances are soon we will see another breakout in the upside direction. Next target for BNB will be $.1.