logo

Cardano ADA price prediction 19 May 2019; bulls replacing bears

ada price analysis may 19 2019

The 10th largest cryptocurrency by market capitalization Cardano ADA went through a three-day bear run that although brought it down to $0.08 from the monthly high point of $0.9425. 

On the other hand, the volatility in the cryptocurrency market is getting one currency at a time since, in the recent few days, almost all major currencies have fluctuated with Bitcoin prices.

Cardano ADA price prediction 19 May 2019; bulls replacing bears 1Cardano ADA price chart created with Trading View

The ADA was trading effectively on the price chart on May 16 and 17 at above $0.094256, but it was not able to maintain its good performance and therefore didn’t close well.

The price analysis of ADA/USD indicates that the pair is struggling to find some good support level as the support is crucial for trading above $0.094526.

The target objective has been set at $0.16125, and this will be possible only if the pair remains constant in its performance and does not show volatility and abrupt fluctuations.

If the support level would not be able to hold well, it can drop down to $0.57898, which will be considered as a negative momentum and bearish for the pair.

Cardano ADA price prediction 19 May 2019; bulls replacing bears 2Cardano ADA price chart created with Trading View

On the four hours chart, the currency is holding strong right now with the upper resistance on the Fibonacci is $0.088 and the lower resistance level is found at the $0.077 mark.

However, the ADA price is currently trending to be in the under-sold zone on the Stoch RSI with a score of -7.89. This can cause the bear trend to slow down since the current bulls started with the rise on Stoch RSI and it went as high up as 100.

On the other hand, the MCAD analysis reveals that the upper and lower support lies at $0.088 and $0.084 marks. If the currency can come out of the underselling zone it can hold the bear to a new high.

Saad B. Murtaza

Saad B. Murtaza

Journalist, Writer, Editor, Researcher, and Strategist with over 10 years of experience in the digital, print and public relations industries, Saad has been working with the mantra, Creativity, Quality and Punctuality. In his waning years promises to build a self-sustaining institute that provides free education. Carrying a diverse portfolio he has studied and written on topics related to cyber crimes, scams, blockchain, and cryptocurrencies.

Related News

Hot Stories

Avalanche price analysis: Bulls to test $13.00 resistance
Blockchain games are doing great despite the failure of FTX
Bitcoin, Ethereum, Tezos, and Aave Daily Price Analyses – 1 December Roundup
Reserve Bank of India’s crypto alternative is here: How can one use the e-Rupi?
Coinbase blames Apple's new policies on disabled NFT transfers

Follow Us

Industry News

Blockchain games are doing great despite the failure of FTX
Reserve Bank of India’s crypto alternative is here: How can one use the e-Rupi?
Russian bank infuses metamask into its blockchain
OpenSea ends 2022 with major partnerships and $1B in NFT royalties
Dealbook interview: New York Times continues to defend SBF & FTX collapse

Add Your Heading Text Here