Signaling | Cardano breaks horizontal support | Technical Analysis By Whaleagents | 8.23.2018
Cardano has performed a perfect re-test strategy over the last couple of days. The coin broke through the horizontal support, closed below and then returned to re-test the support, now resistance. This resulted in a rotation back lower as the sellers found a great price to sell the coin. Meanwhile, the ADABTC -0.92% today pushed to create new 8-month low as we trade below the previous swing low around 0.00001425. The coin is now approaching key short-term support at 127.2%, sitting at 0.00000992. It is expected that support will provide a bounce, but the long-term outlook for the coin is still bearish .
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