Cardano ADA/USD is trading at the level of 0.14. The cryptocurrency is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, which indicates a bearish trend in Cardano. Ichimoku Kinko Hyo Cloud lower limit test is expected near the 0.15 level, from which one should expect a rebound and an attempt to continue the fall of the cryptocurrency with the target close to 0.11.
Cardano forecast & analysis ADA/USD April 7, 2018
An additional signal in favor of the fall of the cryptocurrency will be the formation of the reversal model «Head and Shoulders». Earlier, a medium strength signal was received for sell of the Cardano cryptocurrency, by crossing the signal lines at 0.15.
Cancellation of the variant of the fall of the quotations of Cardano will be a breakdown of the upper boundary of the Cloud of Ichimoku Kinko Hyo with the closing of quotations above the area of 0.16, which will indicate the change of the bearish trend in favor of the bullish trend. Expect to accelerate the fall in quotations ADA/USD stands with the breakdown of the support area and closing below the area of 0.13.
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