If bulls push the price above the downtrend line of the symmetrical triangle, the pair is likely to resume its up move and rally to $15,376.
Our bearish view will be invalidated if the pair rebounds sharply from the support zone and rises above the 50-day SMA. We suggest traders wait for the cryptocurrency to form a new buy setup before initiating a trade in it.
If bulls push the price above the 50-day SMA, a rally to $360 is possible.
A breakout of this level can carry the price to $428.54 and above it to $515.35.
The bulls will now attempt to push the price above the 50-day SMA, which will signal a trend change.
We will wait for the price to break out and close above the 50-day SMA before suggesting a trade in it.
We will wait for the price to break out and close above the 50-day SMA before recommending a trade in it.
ADA/USD. Though Cardano broke above the 20-day EMA on Sept. 10, it did not close above it.
Conversely, bulls will again try to push the price above the 20-day EMA. A breakout of the 20-day EMA can carry the pair to the 50-day SMA, which might act as a resistance.
Though the bullish divergence on the RSI is a positive sign, we will wait for the price to break out and sustain above the 20-day EMA before recommending a long position again.
Price Analysis 11/09: BTC, ETH, XRP, BCH, LTC, BNB, EOS, BSV, XMR, ADA
Udgivet den Sep 11, 2019
by Cointele | Udgivet den Coinage
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