$ADA

Cardano weekly does not look as good as XRP and Ethereum, and this is true because I am using the same indicators.

Here we can see the ADAUSDT trading below the EMA34 and MA200. We can even see an attempt this week to move higher followed by rejection, which means there could be some more downward action before prices rise, but this downward action can easily happen in the short term. Why? Because Cardano has already declined for five consecutive weeks.

The rise from its lowest point on April 7 totals six weeks. The week that produced the peak is also the first week of declining prices. So we can say 6 weeks up and four weeks down, or, five weeks up and five weeks down.

The thing is that the market seeks balance and this tracking is already large enough and has been going on for long enough. Yes, and action is happening below these moving averages but this can easily change.

Short-term bearish.

" ADAUSDT will remain bearish as long as it trades weekly below the price range of $0.750 - $0.6875. When ADAUSDT moves and closes above this range, the bullish bias is confirmed. Any trading below and we wait.