Cardano ADA/USD is trading at the level of 0.26. 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 0.27 level, from which one should expect a rebound and an attempt to continue the fall of the cryptocurrency with a target near 0.20.
Cardano forecast & analysis ADA/USD May 16, 2018
An additional signal in favor of the fall of the cryptocurrency will be a test of the upper boundary of the downlink, as well as a test of the resistance level. Earlier, a strong signal was received for sell of the Cardano cryptocurrency, due to crossing of the signal lines at the level of 0.25.
The cancellation of the variant of the fall of the quotes of Cardano will be the breakdown of the upper boundary of the Cloud of Ichimoku Kinko Hyo with the closing of quotations above the area of 0.32, which will indicate a change in the bearish trend in favor of the bullish trend. Expect to accelerate the fall in quotations ADA/USD stands with the breakdown of the lower limit of the model «Triangle» and closing below the level of 0.24.