Cardano’s ADA Technical Analysis – In Flight Mode – 26/06/18

Key Highlights

• Cardano’s ADA gained 3.38% on Monday, partially reversing Sunday’s 4.93% fall, to end the day at $0.13547.
• An early intraday low $0.12654 steered clear of the day’s first major support level at $0.1211 before an extended rebound saw Cardano’s ADA move through to an intraday high $0.13871.
• The day’s high fell short of the first major resistance level at $0.1395 and well short of the 23.6% FIB Retracement Level of $0.1831 to leave the extended bearish trend intact.

How to Buy Cardano’s ADA

Cardano’s ADA Price Support

Cardano’s ADA gained 3.38% on Monday, recovering most of Sunday’s 4.93% slide, to end the day at $0.13547, the moves through the day certainly more bullish than the cryptomarket leaders.

Bucking the broader market trend early, Cardano’s ADA fell to an intraday low $0.12654 in the early hours, holding just above the first major support level at $0.1211 before rallying through the morning to an early afternoon intraday high $0.13871.

In spite of the bullish move through the first half of the day, Cardano’s ADA fell short of the first major resistance level at $0.1395, with a broad based easing across the market late in the day pinning Cardano’s ADA back from a stronger finish.

With Cardano’s ADA failing to break through the first major resistance level and continuing to sit well below the 23.6% FIB Retracement Level of $0.1831, the extended bearish trend formed at late April’s swing hi $0.38845 remains intact, Cardano’s ADA having a long way to go before any bearish trend reversal can be considered.

At the time of writing, Cardano’s ADA was down 0.35% to $0.135 in what’s been another choppy start to the day, Cardano’s ADA falling to a morning low $0.13192 in the early hours of the day before moving back to $0.135 levels, Cardano’s ADA finding plenty of support in spite of the negative sentiment from last week continuing to weigh on the market.

A morning $0.13562 high came up short of the first major resistance level at $0.1406, though the recovery from the start of the day reversal keeps $0.14 levels and the first major resistance level in play through the middle part of the day, Cardano’s ADA needing to move through the morning’s $0.13562 high to draw in buyers.

Failure to move through the morning high to take a run at $0.14 levels will likely see Cardano’s ADA pullback through to the morning’s low $0.13192 to bring the day’s first major support level at $0.1284 into play, though barring materially negative news hitting the wires, we would expect Cardano’s ADA to close out the day at $0.13 levels, with the day’s first major support level likely to be left untested on the day.

Looking at the Technical Indicators

Major Support Level: $0.1284

Major Resistance Level: $0.1406

Fib 23.6% Retracement Level: $0.1831

Fib 38% Retracement Level: $0.2223

Fib 62% Retracement Level: $0.2857