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Cardano (ADA) Technical Analysis: Bulls Fails to Surpass Psychological $0.10 Level

CryptocurrencyMay 16, 2019 10:01AM ET
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Cardano (ADA) Technical Analysis: Bulls Fails to Surpass Psychological $0.10 Level

Cardano buyers have failed to test a major milestone today, after running into strong selling pressure at the psychological $0.10 level. These particular levels often create problems during an uptrend as traders have a tendency to sell assets when they reach whole numbers.

ADA was able to hit a new 6-week high at $0.101 during the early hours of this morning, before bearish traders took over and sent the price tumbling by -17.58%. Since then, the asset has struggled to break above yesterday’s close at $0.094.

Right now the #10 cryptocurrency is hanging on in the green with a 4.18% gain against the US dollar. Despite the recent bearish decline, 24 hour Trading volume is showing a marked increase of $81 Million.

Cardano (ADA) Price Analysis

This article appeared first on Cryptovest

Cardano (ADA) Technical Analysis: Bulls Fails to Surpass Psychological $0.10 Level
 

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