Cardano (ADA) Holds On to Crucial Support By a Thread

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In Brief
  • The ADA price has completed a bearish evening star pattern.

  • ADA is trading inside a minor support zone at 1,150 satoshis. The next support levels are found at 1,000 and 880 satoshis.

  • ADA/USD has failed to break through a major resistance level at $0.17.

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The Cardano (ADA) price has been decreasing since July 27, possibly indicating that it has begun a corrective movement. While a short-term upward retracement could occur, the ADA price is expected to eventually make another lower-low. ADA Evening Star Pattern The ADA price has been decreasing since it reached a high of 1,593 satoshis on July 26. In the period from July 25-27, the price
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Valdrin discovered cryptocurrencies while he was getting his MSc in Financial Markets from the Barcelona graduate school of Economics. Shortly after graduating, he began writing for several different cryptocurrency related websites as a freelancer before eventually taking on the role of BeInCrypto's Senior Analyst.

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