ADA Price Analysis – August 8
Cardano is down by 4.42% over the last 24 hours. The next resistance of the coin may likely reach $0.053 level.
ADA/USD Market
Key Levels:
Resistance levels: $0.065, $0.070, $0.075
Support levels: $0.040, $0.035, $0.030 ADAUSD – Daily Chart
Cardano was reassured in the bear market area. It’s been a few days
and the coin has not yet shown any significant strength against the USD.
With four price fluctuations, it is down 4.42% as at now. Any upward
movement of the ADA coin is unlikely in the near future.
Due to the current market condition, ADA has remained in a bearish
movement as the price kept on bleeding heavily which result in a channel
break-down as appeared on the chart. The bulls have failed to stop the
downtrend movement as the price move towards $0.040 support level.
Further low might send price to strong support at $0.035 and $0.030
respectively. Nevertheless, the closest resistance levels are $0.065,
$0.070 and $0.075. The past nine days decline has led the Stochastic RSI
into the oversold territory.
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