[Technical Analysis] ADA/USD Market May 11, 2022

wahyunahrul (70)Private First Classin Account Booster 👍 • 2 years ago

Hey Guys..!!

Meet again with me Wahyu Nahrul, This time I want to make a brief technical analysis of a cryptocurrency chart, the analysis I made is based on my experience and knowledge.

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Alright, let's get straight into the discussion, happy reading!!

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ADA Analysis

Today, May 11, 2022, I will try to technically analyze the price movement of ADA.

SOURCE: TradingView

If we look at it as a whole, we can see indications of a very long Bearish Trend occurring in the ADA/USD market. We can see this by the continuous downward movement of the Cardano price.

SOURCE: TradingView

For initial confirmation, I used the 100 and 200 EMA indicators and found that there was a cross between the two lines.

SOURCE: TradingView

In addition, the ADX indicator with the addition of DI+ and DI- lines also shows a cross (Death Cross) thus strengthening the Bearish Trend that is happening in the ADA/USD market.

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Disclaimer:

This analysis is not an invitation to buy or sell any asset, it is just a short analysis intended for learning. Remember! don't use the analysis I did as a benchmark in investing or trading, always do your own analysis and research first before making any decisions.

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#cryptocurrency #ada #cardano #technical-analysis #indonesia #chart