Hey Guys..!!
Meet again with me Wahyu Nahrul, This time I want to make a brief technical analysis of a cryptocurrency chart, the analysis I made is based on my experience and knowledge.
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Alright, let's get straight into the discussion, happy reading!!
ADA Analysis
Today, May 11, 2022, I will try to technically analyze the price movement of ADA.
If we look at it as a whole, we can see indications of a very long Bearish Trend occurring in the ADA/USD market. We can see this by the continuous downward movement of the Cardano price.
For initial confirmation, I used the 100 and 200 EMA indicators and found that there was a cross between the two lines.
In addition, the ADX indicator with the addition of DI+ and DI- lines also shows a cross (Death Cross) thus strengthening the Bearish Trend that is happening in the ADA/USD market.
Disclaimer:
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Nice..is it the same concept with the stock analysis?
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Thank you.
Yes, it is because stocks and cryptocurrencies have a lot in common, it's just that cryptocurrencies have higher volatility than stocks.
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