This website uses cookies to ensure you get the best experience on our website
CRYPTOALTUM IS EVOLVING! EXCITING CHANGES COMING SOON 

Technical Analysis for ADAUSD for 8th July 2022

Cardano reverses from multi-week support, adding 6%; ADA Bulls Aim for $0.66



Past Performance of ADA

ADA, like the rest of the crypto market, is rising with the tide. The coin remains at eighth in the market cap leaderboard, adding six percent in the past week of trading. From the ADA candlestick arrangement in the daily chart, prices are steady above the primary support line at $0.45, a net positive for bullish Cardano traders.


Cardano Technical Analysis

Cardano’s performance relative to most altcoins is impressive. At spot rates, prices are firm above the multi-week support line at $0.45, and bulls are rejecting attempts for lower lows. 

With rising crypto tides, aggressive ADA traders may load on dips above $0.45 as bulls push prices above the dynamic support--past resistance--line. The first target line will be $0.55, marking June 15 highs and later $0.66, or June 2022 highs. 

On the flip side, an unexpected flash crash below $0.45 will nullify this bullish preview, swinging price action back to favor sellers.


What to Expect from ADA

Traders are upbeat, primarily because of Cardano’s fundamentals. At spot rates, ADA prices are firm and printing higher, drawing more capital that could pump the next leg up. Per the arrangement in the daily chart, bulls may take control in the medium term, and prices may retest $0.66.


Resistance level to watch: $0.55

Support level to watch: $0.45


Disclaimer: Opinions expressed are not investment advice. Do your research.

For more interesting tips and facts visit our Education Centre.


Have Questions? 

We're available 24/7 to help you. You can email us, or send us a message on WhatsApp, Telegram or Messenger!

Risk Disclosure: Trading cryptocurrencies or any other financial instrument involves a significant level of risk and may result in a total loss of your investment. You should consider carefully whether investing in Bitcoin or any other instrument offered by CryptoAltum is appropriate to your financial situation. CryptoAltum only accepts deposits in Cryptocurrencies. By trading with CryptoAltum you acknowledge your understanding of this risk disclosure and your agreement with the Terms and Conditions.

This website is not directed at any jurisdiction and is not intended for any use that would be contrary to local law or regulation.

CryptoAltum does not accept any clients under the age of 18. 
  • Copyright Techcraft Ltd (CryptoAltum) 2020