# Crypto Technicals: Cardano set to resume weakness, recovery attempts capped below 200-DMA

By Anupama Grandhi

Canonical URL: https://www.tokenpost.com/news/investing/2819
Published: 2019-07-29T08:51:32.000Z
Updated: 2019-07-29T08:51:32.000Z
Section: Investing

> Support: 0.0517 (lower BB); Resistance: 0.0608 (20-DMA)

[ADA/USD](<https://www.tradingview.com/symbols/ADAUSD/>) chart - Trading View

Exchange - Kraken

Support: 0.0517 (lower BB); Resistance: 0.0608 (20-DMA)

Technical Analysis: Bias Bearish

Cardano consolidates below 200-DMA, is set to resume downside.

Upside remains capped at 20-DMA and price action is below major moving averages.

RSI is below 50 mark and Stochastics RSI is on verge of rollover from overbought levels.

GMMA indicator supports downside. Short-term MAs have crossed below the Long-term MAs.

The longer-term MAs have shown a compression and turn in direction, indicating a shift in major trend.

Turn in 5-DMA will see resumption of downside. Next major support lies at 0.05. Break below will see dip till 78.6% Fib at 0.04291.

On the flipside, break above 200-DMA will negate near-term bearishness.

For details on FxWirePro's Currency Strength Index, visit [http://www.fxwirepro.com/currencyindex](<http://www.fxwirepro.com/currencyindex>).



## Links in this article

- [ADA/USD](https://www.tradingview.com/symbols/ADAUSD/)
- [http://www.fxwirepro.com/currencyindex](http://www.fxwirepro.com/currencyindex)