Cardano Price Is Heading Towards Previous Low at $0.42

ADA Price Analysis – July 26

Ability to break down the $0.42 level by the bears may lead to decrease in price to support levels at $0.42, $0.30 and $0.22 levels. In case the buyers exert more pressure on the market, the resistance level of $0.54 will be penetrated and the resistance levels of $0.69 and $0.90 may be reached

ADA/USD Market

Key Levels:

Resistance levels: $0.54, $0.69, $0.90

Support levels: $0.42, $0.30, $0.22

ADA/USD Long-term Trend: Ranging

Cardano is on the ranging movement on the daily chart. Buyers are yet to break up the resistance level of $0.54 due to low momentum. In the same manner, Sellers’ momentum remains weak to break down the support level of $0.42. Movement within the $0.54 and $0.42 levels continues in the Cardano market. Untill there is a breakout ranging movement within the mentioned levels continues in the Cardano market.

Cardano is trading between the 9 periods EMA and 21 periods EMA. Ability to break down the $0.42 level by the bears may lead to decrease in price to support levels at $0.42, $0.30 and $0.22 levels. In case the buyers exert more pressure on the market, the resistance level of $0.54 will be penetrated and the resistance levels of $0.69 and $0.90 may be reached. The technical indicator relative Strength Index period 14 is at 47 levels with the signal line pointing downside which indicates a bearish signal.

ADA/USD Medium-term Trend: Ranging

On 4-hour chart, Cardano is on the ranging movement. The Crypto remains range-bound within the mentioned levels below. The resistance level of $0.54 holds the price and the support level of $0.42 remains strong against the price. The momentum of sellers is increasing at the moment and buyers’ pressure remain low in the Cardano market. Cardano price may reach previous low at $0.42 level.

The crypto is trading below the 9 periods EMA and 21 periods EMA. The relative strength index period 14 is at 38 levels and the signal line pointing down to indicate sell signal.

You can purchase Lucky Block here:  Buy LBLOCK