Technical analysis and Cardano price forecast (June 29, 1402)

On June 19 (June 29), Cardano is trading in the price range of $0.2616, which is nearly 2.5% lower than the last 24 hours.

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Beginning

Technical indicators for Cardano
1. RSI index (comparison of profits and losses to determine oversold conditions): in the 14-day period equal to 43.249, indicating a sell position.
2. STOCH index (comparison of the final price with the price range in a certain period of time): 50.810, indicating a neutral position.
3. STOCHRSI index (combination of STOCH and RSI): 54.803, indicating neutral conditions.
4. MACD indicator (a trend-following momentum indicator that shows the relationship between two moving averages): negative 0.002, indicating a sell position.
5. ADX indicator (assessing the strength or weakness of a trend, not the actual direction): 27.402, indicating a buy position.
6. Williams %R index (a momentum indicator for assessing oversold levels): negative 61.111, indicating a sell position.
7. CCI (a momentum-based oscillator to help determine when an overbought situation will be reached): negative 26.313, indicating a neutral position.
8. ATR (Market Volatility Index): 0.0019, indicating low volatility.
9. Highs/Lows indicator (comparison of the highest and lowest prices): 0.0000, indicating a neutral position.
10. Ultimate Oscillator indicator (to identify a possible reversal of the price trend): 53.404, indicating a buy position.
11. ROC indicator (a momentum-based oscillator to show the percentage change between the current price and the previous price n period): negative 2.311, indicating a sell position.
12. Bull/Bear Power Index (to assess the strength of bulls and bears in the market): 0.0003, indicating a neutral position.

In summary, the technical indicators indicate “Sell status” for Cardano (2 buy signals, 4 sell signals and 5 neutral signals).

Moving averages for Cardano
In the table below, a detailed breakdown of the moving averages for Cardano is given. As you know, moving average is a data smoothing technique that analysts use in technical analysis to identify trends. There are many types of moving averages, but two of the most common are the Simple Moving Average and the Exponential Moving Average.
According to the data in the table above, the moving averages represent a “sell position” for Cardano; Because there are 3 buy signals and 9 sell signals.

Conclusion
Based on current data, the overall analysis result for Cardano indicates a “Sell Status”; Because both technical indicators and moving averages are leaning towards “Sell”, indicating a potential bearish move for ADA price.