ADA/USD chart - Trading View
Exchange - Kraken
Support: 0.0517 (lower BB); Resistance: 0.0608 (20-DMA)
Technical Analysis: Bias Bearish
Cardano consolidates below 200-DMA, is set to resume downside.
Upside remains capped at 20-DMA and price action is below major moving averages.
RSI is below 50 mark and Stochastics RSI is on verge of rollover from overbought levels.
GMMA indicator supports downside. Short-term MAs have crossed below the Long-term MAs.
The longer-term MAs have shown a compression and turn in direction, indicating a shift in major trend.
Turn in 5-DMA will see resumption of downside. Next major support lies at 0.05. Break below will see dip till 78.6% Fib at 0.04291.
On the flipside, break above 200-DMA will negate near-term bearishness.
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
