#Cardano Price Analysis: ADA/USD Could Accelerate Below $0.070

Neutral #Cardano Price Analysis: ADA/USD Could Accelerate Below $0.070

Key Highlights

  • ADA price declined further and traded below the $0.0700 support area against the US Dollar (tethered).
  • There was a break below a contracting triangle with support at $0.0725 on the hourly chart of the ADA/USD pair (data feed via Bittrex).
  • The pair is under pressure and it could accelerate declines below $0.0700 in the near term.
Cardano price remains in a downtrend against the US Dollar and Bitcoin. ADA/USD could continue to move down towards the $0.0650 level if sellers remain in action.

Cardano Price Analysis

In the last analysis, we discussed that cardano price could slide towards the $0.0700 level against the US Dollar. The ADA/USD pair did trade lower and not only tested the $0.0700 level, but surpassed it. The pair traded as low as $0.0691 and it is currently consolidating losses. During the decline, there was a break below the key support near $0.0700 and the 100 hourly simple moving average.

More importantly, there was a break below a contracting triangle with support at $0.0725 on the hourly chart of the ADA/USD pair. An initial resistance is the 23.6% Fibonacci retracement level of the recent decline from the $0.0753 high to $0.0691 low. If there is an upside move above the $0.0700 level, the broken support at $0.0720 and the 100 hourly SMA could stop upsides. Moreover, the 50% Fibonacci retracement level of the recent decline from the $0.0753 high to $0.0691 low is near $0.0722 to prevent gains. Therefore, any major recovery from the current levels could face sellers near $0.0720 or $0.0725.

The chart indicates that ADA price is at a risk of more declines as long as it is below $0.0725 and the 100 hourly SMA. If there is a downside break below the recent low, the price may accelerate towards the $0.0670 or $0.0650 level.

Hourly MACD - The MACD for ADA/USD is about to move back in the bearish zone.

Hourly RSI - The RSI for ADA/USD is well below the 50 level.

Major Support Level - $0.0690

Major Resistance Level - $0.0725

10/31/2018 / 08:28:37 Source: newsbtc

Analysis | Technical | ADA | Cardano | | ADA|Trading|Market|Fiat
BTC
1 BTC=$6,343.40
XRP
1 XRP=$0.5126
ETH
1 ETH=$207.09
XUC
1 XUC=$3.88
BCH
1 BCH=$524.03
EOS
1 EOS=$5.30

News Feed 50

Cryptonewsreview Neutral - How the next financial crisis is set to see people turn to cryptocurrency read more.
11/12/2018 / 05:55:14
Ccn Neutral - Cardano, Zcash, Stellar Surge Prior to Coinbase Listing; XLM up 27% read more.
11/12/2018 / 05:52:22
Bitcoin.Com Neutral - South Korea’s Upbit to Launch Exchanges in Thailand and Indonesia read more.
11/12/2018 / 05:45:43
Cryptonewsreview Negative - Bitmain on the warpath against hacker – and has filed a lawsuit too read more.
11/12/2018 / 05:40:42
Coinnounce Neutral - Zeniex Crypto Exchange closing down after crackdown by Korean Authorities read more.
11/12/2018 / 05:32:00
Cryptonewsreview Neutral - How one of the world’s largest banks is turning to Ripple again read more.
11/12/2018 / 05:31:45
Livebitcoinnews Neutral - Germany’s BaFin Shuts Down Crypto-Capitals’ Cross Border Crypto Trading Operations read more.
11/12/2018 / 05:30:51
Coindesk Neutral - IBM Says Blockchain Can Power 'Open Scientific Research' in New Patent Filing read more.
11/12/2018 / 05:00:28
Coinnounce Neutral - #Bitcoin Cash Price Analysis: BCH on a fall ahead of hardfork read more.
11/12/2018 / 04:56:51
Newsbtc Neutral - #Bitcoin Cash Price Analysis: BCH/USD Extending Losses Towards $500 read more.
11/12/2018 / 04:28:04
Livebitcoinnews Neutral - William Shatner Offers Support for Vitalik Buterin read more.
11/12/2018 / 04:00:18
Cryptoglobe Neutral - South Korean Crypto Exchange Pure Bit Exit Scams After Raising 13,000 ETH read more.
11/12/2018 / 02:30:37
Newsbtc Neutral - #Bitcoin Price Analysis: BTC/USD Increasing Demand ahead of BCH Hard Fork read more.
11/12/2018 / 02:15:42
Newsbtc Neutral - XLM/USD, ADA/USD Gains Setting Pace for Inevitable Altcoin Price Recovery read more.
11/12/2018 / 02:00:22
Ccn Neutral - Activists Use Crypto to Protect ‘Rap Against Dictatorship’ from Government Censorship read more.
11/12/2018 / 01:44:58
Livebitcoinnews Neutral - And They Say Crypto is Criminal! Investors Sue 16 Big Banks Over Alleged Foreign Exchange Market Manipulation read more.
11/12/2018 / 01:30:30
Bitcoinist Neutral - Without a Digital Currency, Sweden Faces the Privatization of Money read more.
11/12/2018 / 01:00:35
Ccn Neutral - Bitcoin Accepted Here: Major US Museum Now Takes Crypto Payments read more.
11/12/2018 / 00:30:04
Cryptoglobe Neutral - Iran's Rial-Supported National Crypto to Go to Commercial Banks as Sanctions Grow read more.
11/11/2018 / 23:30:44
Ccn Neutral - What Bear Market? Major Bitcoin Mining Farm Goes Live in Canada read more.
11/11/2018 / 23:15:31
Livebitcoinnews Neutral - Bitcoin Mining Giant Bitmain Sues “John Doe” Binance Hacker Over $5.5 Million BTC Theft read more.
11/11/2018 / 23:00:15
Cryptoglobe Neutral - EOS Gets Its First Stablecoin: CarbonUSD (CUSD) read more.
11/11/2018 / 22:50:45
Ccn Neutral - Binance CEO: Market Still in Good Position — Real Crypto Volume 2x Larger Than Reported Stats read more.
11/11/2018 / 22:11:04
Livebitcoinnews Neutral - Ripple Technology to Power International Payment Corridor Between Japan and Brazil read more.
11/11/2018 / 21:00:23
Cryptoglobe Neutral - Crypto Africa Roundup: Why South Africans Buy Crypto, Zambian Authorities Shut Down Scam read more.
11/11/2018 / 21:00:00
Themerkle Neutral - Bitcoin Price Watch: As a Store-of-Value, Bitcoin Is Unbeatable read more.
11/11/2018 / 19:47:51
Cryptoglobe Neutral - Fork Wars: Bitcoin Cash SV Surges as Craig Wright Reveals 50%+ of Hashpower Support It read more.
11/11/2018 / 19:35:42
Ccn Neutral - Lawyer: Ripple Bumping Securities Lawsuit to Federal Court is Brilliant read more.
11/11/2018 / 19:34:08
Bitcoinist Neutral - BCH Hard Fork: Bitcoin SV Winning ‘Hash War’ Against Bitcoin ABC read more.
11/11/2018 / 19:00:18
Bitcoin.Com Neutral - Vietnam at Crossroads on Cryptocurrency Regulations read more.
11/11/2018 / 19:00:04
Cryptopotato Neutral - Why is it Crucial to Solve the Security-Complexity Relation for Fast Track Adoption? read more.
11/11/2018 / 18:54:22
Themerkle Neutral - Bitcoin Cash Price Dips Below $525 as Bitcoin SV Starts Pumping read more.
11/11/2018 / 18:20:20
Livebitcoinnews Negative - Swedish Man Mails Bomb to Bitcoin Exchange Over Lost Password, Sentenced to 7 Years in Prison read more.
11/11/2018 / 18:00:07
Ccn Neutral - Crypto Market Stable as Bitcoin Stabilizes at $6,350, Decentraland Surges 10% read more.
11/11/2018 / 17:25:23
Coinnounce Neutral - Illegal Trading by Poloniex? BCHABC and BCHSV on Poloniex read more.
11/11/2018 / 17:21:10
Themerkle Negative - Basic Attention Token Price Plummet Continues as Technical Fundamentals Indicate More Pain read more.
11/11/2018 / 17:12:13
Cryptoglobe Neutral - Cryptocurrencies Will Replace Fiat By 2030, International Blockchain Speaker Claims read more.
11/11/2018 / 17:00:00
Bitcoin.Com Neutral - Markets Update: All Eyes on Bitcoin Cash Prices Before the Pending Fork read more.
11/11/2018 / 16:50:35
Blokt Neutral - VersaVault’s ‘Digital Safety Deposit Box’ Set for Commercialization read more.
11/11/2018 / 16:47:03
Newsbtc Neutral - Web Summit 2018, a Great Event for Crypto Community read more.
11/11/2018 / 16:18:03
Cointelegraph Neutral - Private Blockchains Could Be Compatible with EU Privacy Rules, Research Shows read more.
11/11/2018 / 16:10:00
Cointelegraph Neutral - Hodler’s Digest, November 5-11: Star Trek’s Captain Kirk Defends ETH Decentralization, While Fake Elon Musks Overrun Twitter read more.
11/11/2018 / 16:03:00
Bitcoinist Neutral - Bitcoin ATMs Have Spread to 4,000 Locations Globally read more.
11/11/2018 / 16:00:42
Cryptoglobe Neutral - Bitmain Files Lawsuit Against Hacker Who Allegedly Stole $5.5 Million From Its Binance Account read more.
11/11/2018 / 15:30:39
Livebitcoinnews Neutral - Cryptocurrency Holders File Lawsuit Against US Telcos Over SIM Swapping Incidents read more.
11/11/2018 / 15:00:23
Trustnodes Neutral - Bitcoin’s Hashrate Falls 13% read more.
11/11/2018 / 14:57:30
Cryptoglobe Neutral - #XRP Long-term Price Analysis read more.
11/11/2018 / 14:45:41
Ccn Neutral - Revolut: Lack of Investor Interest Stunting Crypto Adoption on Wall Street read more.
11/11/2018 / 14:30:43
Newsbtc Neutral - EOS Centralization Reportedly in Action: Arbitrators Able to Reverse Transactions read more.
11/11/2018 / 14:03:00
Cryptoglobe Neutral - Circle Invest Lists Basic Attention Token, Following Coinbase's Listing read more.
11/11/2018 / 14:00:55
Negative
3.2%
Neutral
95.2%
Positive
1.4%
Mixed
0.1%

Latest comments:

4 min
Hey Sam, how is it going? But I must explain to you how all this mistaken idea of denouncing of a pleasure and praising pain was born
3 min
Pretty good. Doing my homework.. No one rejects, dislikes, or avoids pleasure itself, because it is pleasure, but because
2 min
Any chance to go out? To take a trivial example, which of us ever undertakes laborious physical exercise, except to obtain some advantage
2 min
.. Maybe 40-50 mins. I don't know exactly. On the other hand, we denounce with righteous indignation and dislike men who are so beguiled
1 min
Anyway sounds great! These cases are perfectly simple and easy to distinguish.