ADA/USD Approaching Support at $1

Cardano is approaching support again at the key $1 mark (USD). If price is successfully able to break below this mark it is likely that the cryptocurrency will see sustained downside for a longer period of time. Price is holding below the resistance trendline, and was unable to sustain upside into the resistance on the recent rally. This is a clear sign that bears are in control of movement.

Support: $1

Resistance: 1.20

Published by Tom Stewart

Head of data analytics at TradeProofer. Analyst at Opes Trading Group. FX enthusiast.

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