Cardano price has fallen beneath $0.45, here’s what to expect in July - Aliens: AI Crypto News & Markets Updates
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Cardano price has fallen beneath $0.45, here’s what to expect in July

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FX Street

Thu, Jun 30, 2022

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Aliens TLDR

Cardano price has breached through the 8- and 21-day moving averages.

Invalidation of the bearish downtrend is a breach above the 21-day moving average currently positioned at $0.50.

Cardano’s ADA price shows the continuation of the bearish trend is likely underway.

Since June 25, what first appeared to be a simple consolidation within two coiling simple moving averages, quickly turned into a bearish blitzkrieg as traders came out to suppress the Cardano price.

A breach of this low could be devastating for bulls in the market as the Cardano price could plummet an additional 50% into the $0.20 price level.

ADA/USDT 4-Hour Chart An early Invalidation signal of the bearish downtrend could occur if the bulls can reconquer the 21-day simple moving average currently positioned at $0.50.

FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements.

FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

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