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Nickel Bitcoiner
Nickel Bitcoiner
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TECHNICAL ANALYSIS OF ADAUSD (CARDANO) APRIL 01, 2019

Thu Apr 04, 2019 10:58 am

TECHNICAL ANALYSIS OF ADAUSD (CARDANO) APRIL 01, 2019
Introduction

The year 2018 was a gloomy one for the cryptocurrency market, making it the longest bear market experienced so far. Cardano (ADA) coin was not left out of this price decline.

Technical Analysis
ADAUSD: Monthly Chart

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As seen on the monthly chart of the ADAUSD, price triggered a shooting star pattern after the closing price of January ’18, which led to a 93.3% price decline. Within that long bearish trend, a bearish accumulation pattern was also triggered on October ’18, indicating a single bearish candle of about 54.5%, with resistance at 0.091197.
As we come to the last days in March, we anticipate a breakout of hidden bearish accumulation after the monthly closing price above 0.0561.

Read the complete analysis, technical analysis of Cardano ADAUSD

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