The 4-hour chart leaves no doubt: Cardano is in a strong downtrend that is likely to continue, forming new lows in July.
The price had a small reaction after reaching a new low for this year at $0.1145, but sellers seem to be super-strong any time the price gets close to the long-term downtrend line.
The price is going down very fast and we may witness a new low under $0.11 in July.
Indicators also show a strong bearish setup for this cryptocurrency.
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✅ @forex-intraday, I gave you an upvote on your post! Please give me a follow and I will give you a follow in return and possible future votes!
Done! Checked your profile, I see that you are a trader as well.
Good luck!
I gave you an upvote on your post! Please give me an upvote on my latest post
Thanks @rishabh2s, checking your profile right now.
I sold all my Ada for a decent profit. I only wish I'd sold it sooner. It definitely helps to see the down-trend lines, and a clear picture of the price action in relation to the chart history. I made the same mistake most traders make. When the price hit 16 cents, I assumed it would keep going to 18-20 cents, but it looks like 16 cents was the top for now.
For the time being, selling at a profit is already a bless :)
Good luck for the future!
Thanks. I followed you. Look forward to seeing your future analyses.
I see that you also analyze Financial markets, I follow back.
Good luck!
Thanks for Technical Analysis!
Thanks a lot :)