Introduction
The year 2018 was a gloomy one for the cryptocurrency market, making it the longest bear market experienced so far. Cardano (ADA) coin was not left out of this price decline.
Technical Analysis
ADAUSD: Monthly Chart
As seen on the monthly chart of the ADAUSD, price triggered a shooting star pattern after the closing price of January ’18, which led to a 93.3% price decline. Within that long bearish trend, a bearish accumulation pattern was also triggered on October ’18, indicating a single bearish candle of about 54.5%, with resistance at 0.091197.
As we come to the last days in March, we anticipate a breakout of hidden bearish accumulation after the monthly closing price above 0.0561.
Read the complete analysis, technical analysis of Cardano ADAUSD