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Cardano(ADABTC) to continue selling off?

Previous post for Cardano (ADABTC) based on its 4hr timeframe can be found here. One of the chart patterns presented in the previous analysis was the bullish channel that captured the meandering price action of Cardano from ~ July 2, 2018.

Cardano ada review using a 1 hour timeframe. Technical analysis of Cardano

The 1 hour timeframe of Cardano (ADABTC) is shown in this analysis as opposed to the 4hr in the previous analysis in order to get a better view of price action and the channel. The horizontal dotted blue lines with price at ~0.00002181 marks the point at which Cardano (ADABTC) closed below the lower line of the bullish channel.

A breakout below the lower line of the bullish channel does imply further bearish action that should see Cardano continue to sell off. A quick and approximate estimate extent of the sell off can be derived by using the width of the channel and subtracting it from the breakout point at ~0.00002181.

Interested in Ripple (XRPUSD)? Check out the free analysis here. Besides, price analysis of QTUM (QTMBTC) can be found here.

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3 thoughts on “Cardano(ADABTC) to continue selling off?

  1. […] Interested in Ripple (XRPUSD)? Check out the free analysis here. Besides, price analysis of Cardano (ADABTC) can be found here. […]

  2. […] Interested in Monero (XMRUSD)? Check out the free analysis here. Besides, price analysis of Cardano (ADABTC) can be found here. […]

  3. […] Cardano price analysis calling for a short (sell) trade entry can be found here. Cardano (ADABTC) and its current bearish trend is explored on the 4 hour time frame in this […]

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