Cardano (ADA) Falters on Journey to 2,000 Satoshis – BeInCrypto

Cardano (ADA) Falters on Journey to 2,000 Satoshis – BeInCrypto

-The main resistance area for ADA is found at 1,800 satoshis. There is support at 900 satoshis.

-The price is possibly completing a bearish evening star pattern, combined with bearish divergence.

-ADA has likely completed a five-wave Elliott formation.

The Cardano (ADA) price has been moving upwards at an accelerated rate since the end of May. However, it seems that the upward trend has reached its end and a corrective period is likely to ensue. After breaking out from the 50-week moving average (MA), the ADA price returned to validate the line as support in June and has been moving upwards at an even more accelerated rate since then.

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Valdrin Tahiri

Valdrin is a cryptocurrency enthusiast and financial trader. After obtaining a masters degree in Financial Markets at the Barcelona Graduate School of Economics he began working at the Ministry of Economic Development in his native country of Kosovo. In 2019, he decided to focus full-time on cryptocurrencies and trading.

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