CardanoShort
ADA/USD Downside? 17 Jan 2022
Cardano (ADA) has enjoyed a multi day rally however is now losing momentum. Price has been in a bearish market for the last 6 months, and we anticipate this long term trend to continue.
Technically price has pulled back into a key structure zone, which is now acting as resistance. Price has also formed a bearish candlestick rejection of this zone, and the RSI has shown overextended levels.
Downside target: 1.20
Violated Above: 1.5
Technically price has pulled back into a key structure zone, which is now acting as resistance. Price has also formed a bearish candlestick rejection of this zone, and the RSI has shown overextended levels.
Downside target: 1.20
Violated Above: 1.5
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