* Following uptrend channel since December' 2018 and moved 100%+ against BTC(satoshi) pair. * Trading above 200D-SMAs and Ichimoku cloud on Daily time frame. * Bearish(sell signal) signs indicate slight correction ahead to levels defined on the chart below. * Correction downward can provide an opportunity to buy the asset for the long-term hold. * Pair has moved 60 percent up since last post
Cardano coin has been a runner since December'18 and is in strong bull trend while moving 100%+ against Bitcoin(Satoshi) at the time of writing but will the coin rise more? Few of the catalyst supporting the uptrend: * Ledger Nano S wallet support to cardano(ADA) coin. * Binance adding ADA trading pairs. * Shelly release on Test-net and Mainet during second quarter(Q2).
If we look at the cardano coin forecast analysis today then we might see a slight correction downward in the coming days which might provide an opportunity for late buyers to enter the asset for a long-term hold.
Let's look at cardamon coin technical analysis 2019 on its Daily-time frame chart.
* Risk taker buyers can look for preliminary support area around 0.00001470 satoshi to enter the asset for mid-term hold. * If this preliminary support level doesn't hold then one can look for potential resistance turned support(S/R Flip) area around 0.00001337-0.00001376 satoshi to set their bids for a safer entry. * Sellers can look for areas at resistances(sell zones) around 0.00001920-0.00002000 satoshi (short term) and 0.00002243-0.00002406 satoshi and 0.00002701-0.00002778 satoshi (long-term). * Breaking down below the last support area around 0.00001102-0.00001112 satoshi would be strong bearish(sell signal) for the asset.
Further cardano coin price analysis suggests that it has crossed the 200D- SMA (simple moving average) on Daily with bullish cross-over of 10 and 20 EMA (exponential moving average) on weekly. These are quite healthy signs for the bulls. MACD and Stoch-RSI indicator on Daily time frame showing signs of weakness leading to a healthy correction in the coming days but that doesn't make the pair strongly bearish.
3 Conclusion All-Time
Cardano coin has been the top rising cryptocurrencies and its price seems to be in a bullish trend in the long-term with future looks bright because of the upcoming catalyst of launch of Shelly protocol on Test-net and Main-net during Q2'2019.