Cardano continues to be in a downtrend. The price rose above the 20-day EMA on March 1 but this proved to be a bear trap. The ADA/GBP pair turned down and dropped to £0.59 on March 7.
ADA TO GBP
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MARCH BLOGS
ADA TO GBP – HOW TO TRADE ADA/GBP 8TH MARCH 2022 – UPDATED CONTENT
Both moving averages are sloping down and the RSI remains in the negative territory, indicating advantage to bears. If sellers sustain the price below £0.59, the pair could drop to the strong support zone of £0.55 to £0.50.
The bulls are likely to defend this zone with all their might because a break below the psychological level at £0.50 could accelerate selling.
On the upside, the first sign of strength will be a break and close above the 50-day SMA. Such a move will suggest that the selling pressure could be reducing. That may offer a buying opportunity to investors with a possible target objective at the resistance line of the channel.
ADA TO GBP – HOW TO TRADE ADA/GBP 1ST MARCH 2022
Cardano remains in a strong downtrend. The bulls purchased the dip to the support line of the descending channel on February 24 and the buyers are trying to push the ADA/GBP pair to the 50-day SMA. This level is likely to attract strong selling by the bears.
If the price turns down from the 50-day SMA, it will suggest that bears continue to sell on rallies. However, if bulls do not give up much ground from the 50-day SMA, it will increase the possibility of a break above the level.
A close above the 50-day SMA will be the first sign that the bears may be losing their grip. The pair could then attempt a rally to the resistance line of the channel. The bulls will have to clear this hurdle to signal the start of a new uptrend.
Alternatively, if the price turns down from the current level, the bears will again try to pull the pair to £0.60 and later challenge the psychological support at £0.50.
FEBRUARY BLOGS
ADA TO GBP – HOW TO TRADE ADA/GBP 22TH FEBRUARY 2022
We had suggested in our previous analysis that the possibility of a break below the £0.75 support was high and that is what happened. Cardano broke and closed below £0.75 on February 17.
The bulls tried to push the price back above £0.75 on February 19 but the bears held their ground. This renewed the selling pressure on February 20 and the ADA/GBP pair plunged below the strong support at £0.68 on February 21.
The downsloping moving averages and the RSI in the oversold territory indicate that bears are in control. The sellers will attempt to pull the pair to the support line of the descending channel.
This is an important support for the bulls to defend because a break and close below the channel could result in panic selling, pulling the pair to £0.50.
On the upside, the bulls will have to push and sustain the pair above the 50-day SMA to signal a possible trend change.
ADA TO GBP – HOW TO TRADE ADA/GBP 15TH FEBRUARY 2022
Cardano turned down from the 50-day SMA as we had suggested in the previous analysis. The failure of the bulls to defend the 20-day EMA shows that the sentiment remains negative.
The bulls are attempting to defend the support at £0.75 but a minor negative is that the rebound lacks strength. This indicates that buyers may not be aggressively accumulating at the current levels.
If the price turns down from the 20-day EMA, the possibility of a break below £0.75 increases. The ADA/GBP pair could then retest the January 22 intraday low of £0.68. A break and close below this level could pull the pair down to the support line of the channel.
Alternatively, if bulls push the pair above the 20-day EMA, the bulls will try to drive the pair above £0.93. If they succeed, the pair could start a rally to £1.20.
ADA TO GBP – HOW TO TRADE ADA/GBP 8TH FEBRUARY 2022
We had speculated that Cardano could move higher and that is what happened. The bulls have pushed the price to the 50-day SMA, which may act as a stiff resistance.
If the price turns down from the current level but rises from the 20-day SMA, it will suggest that the sentiment has changed from sell on rallies to buy on dips. The bulls will then try to propel the price above the 50-day SMA.
If they manage to do that, the ADA/GBP pair could rally to £1.20 and then to the resistance line of the descending channel. This level is again likely to act as a strong resistance.
Contrary to this assumption, if the price turns down from the current level and breaks below the 20-day EMA, it will suggest that bears are active at higher levels. The pair could then again drop to the support line of the channel.
ADA TO GBP – HOW TO TRADE ADA/GBP 1ST FEBRUARY 2022
Cardano has been trading in a tight range for the past few days, suggesting that both the bulls and the bears are playing it safe. Usually, tight ranges resolve with a strong trending move.
The positive divergence on the RSI suggests that the selling pressure could be reducing. That implies the possibility of a move higher.
The ADA/GBP pair could rally to the moving averages which are likely to act as a stiff resistance. A break and close above the 50-day SMA could signal the start of a sustained relief rally toward the resistance line of the channel. Short-term traders may attempt to trade this possible up-move.
Conversely, if the tight range resolves to the downside, the pair could drop to the support line of the channel. A break and close below the channel could intensify selling. Hence, traders may avoid bottom fishing until the price is below the moving averages.
JANUARY BLOGS
ADA TO GBP – HOW TO TRADE ADA/GBP 25TH JANUARY 2022
Cardano turned down from £1.20 on January 18 and plunged below the 50-day SMA on January 19. The bulls tried to push the price back above the 50-day SMA on January 20 but failed.
This may have attracted aggressive selling by the bears and profit-booking by short-term bulls. The ADA/GBP pair continued its downward move and declined to £0.68 on January 22.
The bulls are attempting to defend the zone between £0.70 and £0.68 but have failed to achieve a meaningful bounce off it. This indicates a lack of demand at higher levels.
If the price sustains above £0.86, the pair could rally to the 50-day SMA. A break and close above this resistance will suggest that the selling pressure is reducing.
Conversely, a break and close below the support zone could result in panic selling and the pair may drop to the psychological support at £0.50.
ADA TO GBP – HOW TO TRADE ADA/GBP 18TH JANUARY 2022
We had pointed to the positive divergence on the RSI in our previous analysis and said that if the price re-enters the channel, Cardano could rise to the 50-day SMA and that is what happened.
The ADA/GBP pair soared above the 50-day SMA on January 16, which suggests that the bears may be losing their grip. The bulls will now attempt to push the pair to the 200-day SMA. A break and close above the channel will signal a possible change in trend.
If the price turns down from the current level but rebounds off the 50-day SMA, it could offer a buying opportunity to short-term traders. The bulls may buy on a rebound off the 50-day SMA and keep a stop below £0.90.
This positive view will be negated if the price breaks and sustains below the 50-day SMA. Such a move will suggest that bears continue to sell at higher levels. The pair could then drop to £0.79.
ADA TO GBP – HOW TO TRADE ADA/GBP 11TH JANUARY 2022 – UPDATED CONTENT
Cardano continued its gradual decline and slipped below the support line of the descending channel on January 5. The bulls pushed the price back into the channel on January 6 but could not sustain the level.
This suggests that bears continue to sell on every minor rally. If bears sustain the price below the channel, the ADA/GBP pair could drop to £0.70.
Although the downsloping 50-day SMA indicates that bears are in command, the RSI is forming a positive divergence. This suggests that the bearish momentum could be reducing.
If bulls push the price back into the channel, the pair could climb toward the 50-day SMA. A break and close above this level could signal that the bears may be losing their grip. The pair could then rise to the 200-day SMA.
ADA TO GBP – HOW TO TRADE ADA/GBP 4TH JANUARY 2022
The bears will have to sink and sustain the price below the £0.94 to £0.89 support zone to clear the path for a possible decline to £0.70.
On the contrary, if the price rises from the current level or the support zone, the bulls will again try to push the ADA/GBP pair above the 50-day SMA. If they succeed, it will suggest that the bears may be losing their grip.
The pair could then rally to £1.19 and eventually to the resistance line of the channel. A break and close above this level will signal a possible trend change.
DECEMBER BLOGS
ADA TO GBP – HOW TO TRADE ADA/GBP 28TH DECEMBER 2021
Cardano re-entered the channel on December 22, indicating the start of a recovery. The bulls pushed the price to the 50-day SMA but could not clear this barrier. This suggests that bears continue to sell at higher levels.
The ADA/GBP pair could now drop to £1.03 and then to the support line of the channel. A break and close below £0.89 could signal the start of a deeper correction to the critical support at £0.70.
On the contrary, if the price turns up from the current level or the support at £1.03, it will indicate that the sentiment has changed from sell on rallies to buy on dips.
The bulls will then make one more attempt to push and sustain the price above the 50-day SMA. If they succeed, the pair could rise to the 200-day SMA.
This level may again act as a strong resistance but a break above it could open the doors for a possible rally to the resistance line. A break and close above the channel will signal a possible change in trend.
ADA TO GBP – HOW TO TRADE ADA/GBP 21ST DECEMBER 2021
Cardano broke below the support line of the descending channel on December 9, indicating that the selling pressure was increasing. The bulls attempted to push the price back into the channel but failed. This suggests that the bears have flipped the support line of the channel into resistance. The bearish crossover suggests that sellers are firmly in the driver’s seat
If the price breaks and sustains below £0.89, the selling momentum could pick up further. The ADA/GBP pair could then start its downward journey toward the critical support at £0.70. The bulls are likely to defend this level aggressively.
The first sign of strength will be if bulls succeed in pushing and sustaining the price inside the channel. That could result in a relief rally to the 50-day SMA. A break and close above the channel will signal a possible change in trend.
ADA TO GBP – HOW TO TRADE ADA/GBP 14TH DECEMBER 2021
Since making the high of £2.086 on September 2, the bears have been in complete control of Cardano, and despite last Thursday’s bullish move on December 9, it was another bearish week overall for this pair.
Price is very clearly below both the 100-day SMA and the 20-day EMA moving averages supported by the resistance and supply Fibonacci retracement levels.
The relative strength index ( RSI ) is in total agreement with current price action as indicated on the chart, although heavily oversold around December 10 at the 30 mark, the oscillator is extremely bearish struggling to get above the 40 level.
The July 20 low price of £0.75, as shown on the chart, is now a real possibility as we enter the final few weeks of 2021 heading into the new year, with a potentially support and demand area printing a new double bottom.
A daily break and close above the 20-day EMA could take some pressure off the downside and provide some welcome relief for the bulls.
ADA TO GBP – HOW TO TRADE ADA/GBP 7TH DECEMBER 2021
Cardano continues to be in a strong downtrend. The bulls attempted a relief rally from the support line of the descending channel on November 28 but the recovery stalled at the 20-day EMA.
This may have prompted selling from the short-term bulls and bears. This pulled the price below the support line of the channel on December 4. However, a minor positive is that bears could not capitalise on this weakness.
The bulls are aggressively defending the psychological support at £1 and have pushed the price back into the channel. The pair could now move up to the 20-day EMA which could again act as a barrier.
If the price turns down from this resistance, the bears will make one more attempt to sink the pair below £1. If that happens, the decline could extend to the next support at £0.70.
Alternatively, a break and close above the 20-day EMA could indicate that the selling pressure could be reducing. The pair could then rise to the resistance line of the channel.
NOVEMBER BLOGS
ADA TO GBP – HOW TO TRADE ADA/GBP 30TH NOVEMBER 2021
Cardano has been trading inside a descending channel for the past few days. The price bounced off the support line of the channel on November 28, indicating that bulls are buying on dips to this level.
However, the bulls are struggling to build upon the bounce. This suggests that buying dries up at higher levels.
The downsloping 20-day EMA and the RSI near the overbought territory indicate that bears are in control.
If the price turns down from the current level, the bears will again try to pull the ADA/GBP pair below the support line of the channel. If they succeed, the selling could accelerate and the pair may plummet to £0.90 and then to the strong support at £0.70.
The first sign of strength will be a break and close above the 20-day EMA. Such a move could open the doors for a possible rally to £1.46.
ADA TO GBP – HOW TO TRADE ADA/GBP 23RD NOVEMBER 2021
Cardano broke below the critical support at £1.33 on November 18 but the bulls bought the lows and managed to defend the level. The subsequent rebound reached the 20-day EMA on November 20 but the bulls could not clear this hurdle.
The price turned down on November 21 and the pair has once again dipped to £1.33. If bears pull and sustain the price below this support, the ADA/GBP pair could start a downtrend. The pair could then drop to £1.10.
The downsloping moving averages and the RSI in the negative territory indicate that bears are in command.
This negative view will be invalidated in the short term if the price rebounds off the current level and breaks above the downtrend line. Such a move will suggest that traders continue to accumulate at lower levels.
As the trend is down, traders may remain on the sidelines. We may suggest long positions on a break and close above the downtrend line. If the price sustains above this level, the pair could rally to £1.80.
ADA TO GBP – HOW TO TRADE ADA/GBP 16TH NOVEMBER 2021
Cardano surged above the downtrend line on November 9 but the up-move proved to be a bull trap. The price turned around sharply and plunged back below the downtrend line on November 10.
Thereafter, attempts by the bulls to push the ADA/GBP pair back above the downtrend line failed. This may have attracted selling from the aggressive bulls who may have purchased on a break above the downtrend line.
The pair has broken below the strong support of £1.50 today and may now drop to the next important support at £1.33. A break and close below this level could intensify selling and signal the start of a downtrend.
On the contrary, if the pair rebounds off £1.33, the bulls will again try to propel the price above the downtrend line. A break and close above £1.79719 will signal that bulls are back in the game.
ADA TO GBP – HOW TO TRADE ADA/GBP 9TH NOVEMBER 2021
After struggling to sustain above the 20-day EMA for several days, the bulls finally managed a close above the level on November 8. This is the first sign that bears may be losing their grip.
Cardano has now reached the downtrend line, which could attract strong selling by the bears. However, if bulls overcome this resistance, the ADA/GBP pair could accelerate to £1.79719.
The 20-day EMA has started to turn up and the RSI has risen into the positive territory, indicating that bulls are back in the game. A breakout and close above £1.79719 could clear the path for a rally to £1.94 and then £2.
Contrary to this assumption, if the price turns down from the current level and breaks below the 20-day EMA, it will indicate aggressive selling by the bears on rallies. The pair may then retest the critical support at £1.33.
ADA TO GBP – HOW TO TRADE ADA/GBP 2ND NOVEMBER 2021
Cardano plunged and closed below the £1.50 support on October 27, completing the bearish descending triangle pattern. The bulls attempted to push the price back above the breakdown level of £1.50 on October 28 and 29 but failed.
The ADA/GBP pair is currently stuck between £1.50 and £1.33. A break and close below the strong support of £1.33 could sink the pair to the pattern target at £1.21 and later to £1.10.
The downsloping moving averages and the RSI below 38 indicate that bears are in control.
Contrary to this assumption, if the price turns up from the current level and rises above £1.50, it will suggest accumulation at lower levels. The pair may then rise to the resistance line. A break and close above this level will signal a trend change.
OCTOBER BLOGS
ADA TO GBP – HOW TO TRADE ADA/GBP 26TH OCTOBER 2021 Cardano has been struggling to rise above the 20-day EMA for the past few days, which suggests that traders are selling on rallies to this level.
The ADA/GBP pair has also formed a descending triangle pattern that will complete on a break and close below £1.50.
This bearish setup could open the doors for a decline to the strong support at £1.33. A break below this level could pull the pair to the pattern target of £1.21.
Alternatively, if the price breaks above the 20-day EMA, the bulls will attempt to push the pair above the resistance line of the triangle. If they succeed, it will invalidate the bearish setup. The pair could then rally to £1.79 and later attempt a rally to £2.02.
ADA TO GBP – HOW TO TRADE ADA/GBP 19TH OCTOBER 2021
The 20-day EMA is sloping down marginally and the RSI is in the negative zone, indicating an advantage to bears. If sellers pull the price below £1.49, the ADA/GBP pair could drop to the £1.40 to £1.33 support zone.
Contrary to this assumption, if the price rises from the current level and breaks above the 20-day EMA, it will suggest that the selling pressure could be reducing. The bulls will then attempt to propel the price above the overhead resistance at £1.75137.
If they manage to do that, the pair could rally to £2 but if the price turns down from £1.75137, a few more days of range-bound action is possible.
ADA TO GBP – HOW TO TRADE ADA/GBP 12TH OCTOBER 2021
Cardano broke and closed above the 20-day EMA on October 7 but the bulls could not clear the overhead hurdle at £1.75137. The failure to do so may have attracted profit-booking from short-term buyers and shorting by aggressive bears.
That pulled the price below the 20-day EMA and the uptrend line on October 10. The bulls tried to reclaim the level on October 11 but failed. The 20-day EMA has started to turn down marginally and the RSI is in the negative zone indicating that bears have the upper hand.
The BNB/GBP pair could now drop to £1.49 and if this level cracks, the next stop could be £1.40. If the price rebounds off this level, the pair could remain range-bound for a few days.
A breakout and close above £1.75137 will signal advantage to bulls while a drop below £1.33 will indicate that bears are in the driver’s seat.
ADA TO GBP – HOW TO TRADE ADA/GBP 5TH OCTOBER 2021
ADA to GBP broke above the downtrend line on October 1 but the bulls have not been able to push the price above the 20-day EMA. This suggests that sentiment remains negative and traders are selling on rallies.
The bears are currently attempting to sink the price below the uptrend line. If they succeed, the ADA/GBP pair could drop to £1.50 and then retest the critical support at £1.33.
The 20-day EMA continues to slope down gradually but the RSI has risen to just below the midpoint, indicating that bulls are trying to make a comeback.
If the price rebounds off the current level or the uptrend line and breaks above the 20-day EMA, it will signal strength. The bullish momentum could pick up after buyers push and sustain the price above £1.80
SEPTEMBER BLOGS
ADA to GBP – HOW TO TRADE ADA/GBP 28th SEPTEMBER 2021
ADA to GBP rose above the 20-day EMA on September 25 but the long wick on the day’s candlestick shows that bears aggressively sold at higher levels as we had projected in the previous analysis.
The ADA/GBP pair has turned down and the bears will now try to sink the price to £1.50 followed by a retest of the critical support at £1.33.
The downsloping 20-day EMA and the RSI in the negative territory indicate an advantage to bears.
A break and close below £1.33 will be a huge negative and may start a new downtrend that could pull the pair to £1.10.
The bulls will have to push and sustain the price above the 20-day EMA to signal that they are back in the game. The positive momentum could pick up if the pair rises and sustains above £1.80.
ADA to GBP – HOW TO TRADE ADA/GBP 21ST SEPTEMBER 2021
Cardano rose above the 20-day EMA on September 16 but higher levels attracted strong selling as seen from the long wick on the day’s candlestick. The ADA/GBP pair gradually drifted down to the 50-day SMA and plummeted below it on September 20. This suggests that supply exceeds demand. The moving averages are on the verge of a bearish crossover and the RSI is in the negative territory, suggesting that bears are in control.
https://www.youtube.com/watch?v=sy7SX7c7P7E
The bulls may attempt a relief rally but they are likely to counter strong selling at the 20-day EMA. If the price turns down from this resistance, the pair could slump to the critical support at £1.33.
This negative view will invalidate if the price breaks out and sustains above the downtrend line.
ADA to GBP – HOW TO TRADE ADA/GBP 14TH SEPTEMBER 2021
The failure of the bulls to sustain Cardano above £2.16173 could have attracted profit-booking by short-term traders on September 7. The selling picked up momentum on the break below the 20-day EMA and the ADA/GBP pair plunged to the 50-day SMA. The long tail on the September 7 and 8 candlesticks suggests that bulls aggressively bought near the 50-day SMA.
https://www.youtube.com/watch?v=3SX4GRIdROQ
The bulls pushed the price above the 20-day EMA on September 11 and 12 but they could not sustain the higher levels. This suggests that bears are selling on rallies.
If bears sink the price below the 50-day SMA, the pair could drop to the next major support at £1.33. Such a deep correction will suggest that the uptrend is over. The pair could then remain range-bound for a few days before starting the next directional move.
The bulls will have to push the price above the £2 to £2.16173 resistance zone to signal the resumption of the uptrend.
ADA TO GBP – HOW TO TRADE ADA/GBP 7TH SEPTEMBER 2021
The bulls pushed Cardano above £2.16173 on September 2 and 3 but could not sustain the higher levels. This suggests that bears are defending the overhead resistance aggressively. The bears will now try to pull the price down to the 20-day EMA. This is an important support to watch out for.
https://www.youtube.com/watch?v=aBohflXGId0
If the price rebounds off this support with strength, it will suggest the sentiment remains positive and bulls are accumulating on dips. The buyers will then make one more attempt to resume the uptrend. The target objective on the upside is £2.50.
On the contrary, if bears pull the price below the 20-day EMA, the ADA/GBP pair could drop to the breakout level at £1.75137. A bounce off this level could keep the pair range-bound for a few days while a break below it may start a deeper correction.
AUGUST BLOGS
ADA TO GBP – HOW TO TRADE ADA/GBP 31ST AUGUST 2021
We had projected in our previous analysis that the RSI was in the overbought territory and a pullback to the breakout level of £1.75137 was possible and that is what happened.
The ADA/GBP pair corrected to £1.78 on August 26 but the bears could not keep the price down. The pair rebounded sharply on August 27, indicating strong buying at lower levels.
https://www.youtube.com/watch?v=e2vHmeFNSXo
However, the bears again defended the overhead resistance of £2.16173 on August 23. The pair may now remain range-bound between £1.75137 and £2.16173 for the next few days.
The rising moving averages and the RSI in the positive zone suggest that bulls have the upper hand. If buyers push the price above £2.16173, the pair may start the next leg of the uptrend that may reach £2.3431 and then £2.50.
Contrary to this assumption, if bears sink the price below £1.75137, the pair may drop to £1.60 and then to £1.33.
ADA to GBP – HOW TO TRADE ADA/GBP 24TH AUGUST 2021
In our previous analysis, we had said that Cardano may start a new uptrend if bulls push and sustain the price above £1.33 and that is what happened. The buyers thrust the price above £1.33 on August 13 and the ADA/GBP pair completed a successful retest of the breakout level on August 18. This attracted further buying, which propelled the pair to a new all-time high on August 19.
Whenever an asset hits a new all-time high, it enters into uncharted territory and that is a bullish sign.
The pair could reach its target objective of £2.24, which may act as a resistance. The overbought levels on the RSI also signal that the rally is unsustainable.
If the price turns down from $2.24, the pair may correct to £1.75137, which is likely to act as a support. A strong rebound off this level will suggest that traders continue to accumulate on dips.
The bears will have to sink and sustain the price below £1.75 to weaken the bullish momentum.
ADA TO GBP – HOW TO TRADE ADA/GBP 10TH AUGUST 2021
Cardano broke above the 50-day SMA on August 3 and has continued its move higher. The rising 20-day EMA and the RSI in the positive zone suggest that bulls have the upper hand.
However, the bears have other plans, They are attempting to stall the recovery near £1.10 as seen from the long wick on today’s candlestick. A break and close below the moving averages will be the first sign of weakness. The ADA/GBP pair could then drop to £0.88 and then to £0.71.
On the other hand, if bulls sustain the price above the 20-day EMA, the up-move may reach the overhead resistance at £1.33 where the bears may again mount a stiff resistance.
If the price turns down from this level, the pair may extend its stay inside the large range of £0.71 and £1.33 for a few more days. The next leg of the uptrend could start after the bulls push and sustain the price above £1.33.
ADA TO GBP – HOW TO TRADE ADA/GBP 3RD AUGUST 2021
ADA to GBP has been trading between the moving averages for the past few days. Though the bulls pushed the price above the 50-day SMA on August 1, they could not sustain the higher levels as seen from the long wick on the day’s candlestick.
CRYPTOCURRENCY TECHNICAL ANALYSIS – HOW TO TRADE ADA TO GBP
This may have attracted profit-booking from short-term traders. The bears will now try to capitalize on this weakness and sink the ADA GBP price below the 20-day EMA. If they manage to do that, the ADA/GBP pair could drop to £0.83.
Alternatively, if the ADA GBP price again rebounds off the 20-day EMA, it will suggest that the sentiment has turned positive and traders are buying on dips. That will enhance the prospects of a break above the 50-day SMA.
The pair could then gradually move up to £1.08. We do not find any reliable setup, hence we are not recommending any trade in it.
JULY BLOGS
ADA TO GBP – HOW TO TRADE ADA/GBP 27TH JULY 2021
ADA to GBP bulls pushed Cardano above the downtrend line on July 26 but the long wick on the day’s candlestick suggests that bears aggressively sold at the 50-day simple moving average. This suggests that the sentiment remains negative and the bears have not surrendered.
CRYPTOCURRENCY TECHNICAL ANALYSIS – HOW TO TRADE ADA TO GBP
If bears pull the ada to gbp price below the 20-day EMA, the ADA/GBP pair could again start its downward journey toward the critical support at £0.71. A break and close below this level will signal the start of a new downtrend.
On the other hand, if the price rebounds off the current level or £0.83, the bulls will again try to push and sustain the ada to gbp price above the 50-day SMA. If they succeed, it will suggest a change in the short-term sentiment.
The pair could then start its journey to £1.1 and later to £1.33. A short-term buying opportunity could open up if the pair closes above the 50-day SMA.
ADA to GBP – HOW TO TRADE ADA/GBP 20TH JULY 2021
ADA to GBP failure of the bulls to push the price above the 50-day SMA attracted profit-booking from short-term traders. That pulled the price below the 20-day EMA on July 8.
Thereafter, the bears aggressively defended the 20-day EMA, attracting further selling. The ADA/GBP pair is on target to drop to the critical support at £0.71.
This support has not been breached on a closing basis since February 25. Therefore, if bears sink and sustain the price below £0.71, long liquidation may occur as bulls rush to the exit.
That could clear the path for a decline to £0.50. The downsloping moving averages and the RSI in the oversold territory indicate that the path of least resistance is to the downside.
This negative view will invalidate if the price rebounds off £0.71.
ADA TO GBP – HOW TO TRADE ADA/GBP 13TH JULY 2021
After trading between the moving averages for four days, Cardano slipped below the 20-day EMA on July 8. This suggests profit-booking from the short-term bulls.
The 20-day EMA has started to turn down and the RSI has dipped into the negative zone, indicating advantage to the bears. If sellers sink and sustain the price below £0.932, the ADA/GBP pair could drop to £0.86576 and then to the critical support at £0.71.
CRYPTOCURRENCY TECHNICAL ANALYSIS – HOW TO TRADE ADA
This is an important level for the bulls because if it cracks, long liquidation may ensue. That could result in a quick decline to £0.50.
Alternatively, if the price rises from the current level and breaks above the moving averages, it will indicate that bulls are attempting a comeback. A close above £1.10 may signal strength, opening the doors for an up-move to £1.33.
ADA TO GBP – HOW TO TRADE ADA/GBP 6TH JULY 2021
ADA to GBP broke above the 20-day EMA and reached the 50-day SMA as we had projected in our previous analysis. However, the bulls could not push the price above the 50-day SMA.
This suggests that bears are attempting to defend this resistance aggressively. On the way down, the bulls are currently trying to sustain the ada gbp price above the 20-day EMA. Due to this, the price is stuck between the moving averages.
CRYPTOCURRENCY TECHNICAL ANALYSIS – HOW TO TRADE ADA
The flat 20-day EMA and the RSI near the midpoint indicate a balance between the bulls and the bears. This balance will tilt in favour of the buyers if they can push the price above £1.10. The pair could then resume its relief rally and attempt to move up to £1.33.
On the other hand, if the pair plummets below £0.932, the bears will be back in control. The sellers will then try to pull the price down to the critical support at £0.71. A break below this level could result in long liquidation.
JUNE BLOGS
ADA TO GBP – HOW TO TRADE ADA/GBP 29TH JUNE 2021
Cardano rebounded off the £0.71 support on June 22, suggesting that the bulls are defending this level aggressively. The bulls have not allowed the price to slip and sustain below this support since February 24, hence this becomes an important level to watch out for.
The bounce has reached the 20-day EMA where the bulls are facing resistance from the bears. However, the bulls have not given up much ground, suggesting that the selling pressure is reducing.
CRYPTOCURRENCY TECHNICAL ANALYSIS – HOW TO TRADE ADA
Both moving averages are flattening out and the RSI has risen above 45, indicating that the bulls are making a comeback. If the buyers push the price above the 20-day EMA, the ADA/GBP pair could rise to the 50-day SMA.
Contrary to this assumption, if the price turns down from the current level, the bears will make one more attempt to sink the pair below the £0.71 support. If that happens, the pair could witness panic selling.
ADA – HOW TO TRADE ADA/GBP 22ND JUNE 2021
ADA to GBP turned down from the 20-day EMA on June 15 and the bears pulled the price below the £0.94523 support on June 21. This completed a descending triangle pattern, which is a bearish sign.
The bulls are currently attempting to push the ADA GBP price back above the breakdown level of £0.94523. If they succeed, it will suggest strong buying at lower levels. The bulls will have to drive the ADA GBP price above the downtrend line to suggest that the correction is over.
CRYPTOCURRENCY TECHNICAL ANALYSIS – HOW TO TRADE ADA TO GBP
However, the downsloping 20-day EMA and the RSI in the negative zone indicate advantage to the bears. If bears defend the £0.94523 resistance on the upside, the ADA/GBP pair may drop to the critical support at £0.71001.
A break below this level will be a huge negative as it may result in a decline to £0.60 and then to £0.50. We will watch the ADA GBP price action near £0.71001 before proposing any fresh long positions in it.
ADA – HOW TO TRADE ADA/GBP 15TH JUNE 2021
ADA bounced off the support at £0.94523 on June 12, indicating that the bulls are defending this support aggressively. The ada gbp price has risen to the moving averages, which are likely to act as a resistance.
If the price turns down from the current level or the downtrend line, the ADA pair could again drop to the £0.94523 support.
CRYPTOCURRENCY TECHNICAL ANALYSIS – HOW TO TRADE ADA TO GBP
A breakdown and close below this support will complete a descending triangle pattern that may pull the pair down to £0.71001.
Conversely, if the bulls thrust the price above the downtrend line, the pair could rally to the £1.33 to £1.38347 resistance zone. If the price turns down from this zone, the pair could remain range-bound between £0.94523 and £1.38347 for a few days.
The flattish moving averages and the RSI near the midpoint also indicate a few days of consolidation.
However, if the bulls propel the price above the resistance zone, the pair could challenge the all-time high at £1.75137.
ADA – HOW TO TRADE ADA/GBP 8TH JUNE 2021
ADA broke above the downtrend line on June 3, triggering the buy recommendation given in the previous analysis.
However, we had also warned to close positions if the ADA price failed to rise higher after breaking above the downtrend line as that could be a bull trap.
That is what happened on June 4 as the price plunged back below the downtrend line. Traders who followed our advice would have closed their position with a nominal loss.
In trading, it is important to keep the losses small when the market does not behave according to our expectations.
CRYPTOCURRENCY TECHNICAL ANALYSIS – HOW TO TRADE ADA TO GBP
The ADA broke above the downtrend line on June 3, triggering the buy recommendation given in the previous analysis. pair has broken below the moving averages and dropped to the critical support at £1.07197. If this support cracks, the decline could extend to £0.90 and then to £0.71001.
Conversely, if the price rebounds off the current level, the pair could remain range-bound between £1.07197 and £1.33 for a few days. We will wait for clarity to emerge before suggesting fresh positions.
ADA TO GBP – HOW TO TRADE ADA/GBP 1ST JUNE 2021
ADA to GBP is facing resistance at the downtrend line but the positive sign is that the bulls are attempting to form higher lows. The 20-day EMA is flat and the RSI is above the midpoint, indicating a balance between supply and demand.
If the bulls push the price above the downtrend line, the ADA/GBP pair could move up to £1.40 and then to £1.60. If both these levels are crossed, the bulls may challenge the all-time high at £1.75137.
CRYPTOCURRENCY TECHNICAL ANALYSIS – HOW TO TRADE ADA TO GBP
Conversely, if the price turns down from the downtrend line, the bears will try to pull the price below the £1.07197 support. If that happens, the pair could drop to £0.90. This is an important support to watch out for because if it cracks, the pair could witness sharp selling and drop to £0.71001.
Short-term traders may buy on a breakout and close above the downtrend line. This is a risky trade, hence keep the position size 50% of usual. The initial stop-loss could be kept at £1.05 but the stops should be raised quickly to reduce the risk.
If the price hesitates to climb higher after breaking above the downtrend line, positions should be closed as that could be a bull trap.
MAY BLOGS
CARDANO PRICE – HOW TO TRADE ADA/GBP 25TH MAY 2021
ADA to GBP plummeted below the moving averages on May 19 and fell to an intraday low of £0.75. However, the ada gbp bulls purchased this dip as seen from the long tail on the day’s candlestick.
The buyers extended the recovery on May 20 and pushed the price above the 20-day EMA. However, the ada gbp bulls could not sustain the breakout and the bears pulled the price back below the 20-day EMA on May 21.
CRYPTOCURRENCY TECHNICAL ANALYSIS – HOW TO TRADE ADA TO GBP
The ada gbp pair dropped to £0.745 on May 23 but the bulls again purchased this dip. Therefore, the £0.71 level becomes an important support to keep an eye on. The ada gbp pair has reached the 20-day EMA, which is likely to act as a stiff resistance.
If the price sustains below the 50-day SMA, the pair could again gradually drop to £0.90 and then to £0.75. On the other hand, if the bulls push the ada gbp price above the 20-day EMA, the pair could rally to £1.38 and then to £1.60.
Traders may consider buying on a rebound off £0.75 with stops placed below £0.70. The target objective of this trade is £1. However, traders should not try to buy if the price breaks the £0.71 support.
Cardano price – HOW TO TRADE ADA/GBP 18TH MAY 2021
The ADA to GBP pair broke above the £1.31706 resistance on May 13, which started the up-move as we had projected in the previous analysis. However, as the overall sentiment was negative, we had not recommended any long positions.
The ADA/GBP pair reached an intraday high at £1.75137 on May 16 where traders booked profits. During strong uptrends, the corrections generally do not last more than three days.
CRYPTOCURRENCY TECHNICAL ANALYSIS – HOW TO TRADE ADA TO GBP
the bulls push the price above £1.75137, the pair could resume its uptrend and reach the next target objective at £2. The rising 20-day EMA and the RSI above 62 suggest the bulls have the upper hand. However, if the bulls fail to clear the £1.75137 hurdle, the pair may witness profit-booking and it could drop to the 20-day EMA. A break below this support could pull the price down to £1.07197.
the bulls push the price above £1.75137, the pair could resume its uptrend and reach the next target objective at £2. The rising 20-day EMA and the RSI above 62 suggest the bulls have the upper hand. However, if the bulls fail to clear the £1.75137 hurdle, the pair may witness profit-booking and it could drop to the 20-day EMA. A break below this support could pull the price down to £1.07197.
Cardano price – HOW TO TRADE ADA/GBP 11TH MAY 2021
ADA to GBP broke above the £0.71001 and £1.07197 range on May 6, indicating that the bulls have overpowered the bears. The ADA/GBP pair hit a new all-time high at £1.31706 on May 9 but the bulls could not hold the higher levels. Aggressive profit-booking on May 10 dragged the price down to the breakout level at £1.07197. Though the bulls purchased this dip, they are struggling to sustain the momentum today. This suggests that traders are closing their positions on rallies.
CRYPTOCURRENCY TECHNICAL ANALYSIS – HOW TO TRADE ADA TO GBP
ADA to GBP pair turns down and drops below the 20-day EMA, the pair could plummet to £0.90. Such a move will suggest that the recent breakout was a bull trap. Contrary to this assumption, if the price sustains above £1.07197, the bulls will make one more attempt to resume the uptrend. If they can propel the price above £1.31706, the next leg of the uptrend could begin. However, as the overall sentiment remains negative, we are not recommending any trade in it
Cardano price – HOW TO TRADE ADA/GBP 4TH MAY 2021
ADA to GBP is stuck between £0.71001 and £1.07197 for the past many weeks. In a well-defined range, traders generally buy the dips to the support and sell near the resistance of the range and the price action in between is random and volatile. The buyers had been sustaining the ADA/GBP pair above the 20-day EMA for the past week but they could not push the price to £1.07197. This shows a lack of buyers at higher levels.
CRYPTOCURRENCY TECHNICAL ANALYSIS – HOW TO TRADE CARDANO PRICE GBP
If the ADA to GBP pair turns down and drops below the 20-day EMA, the pair could plummet to £0.90. Such a move will suggest that the recent breakout was a bull trap. Contrary to this assumption, if the price sustains above £1.07197, the bulls will make one more attempt to resume the uptrend. If they can propel the price above £1.31706, the next leg of the uptrend could begin. However, as the overall sentiment remains negative, we are not recommending any trade in it.
APRIL BLOGS
ADA TO GBP – HOW TO TRADE ADA/GBP 27TH APRIL 2021
Cardano Price GBP continues to trade between £0.71001 and £1.07197. The price had dipped to the support of the range on April 23 but the long tail on the day’s candlestick suggests that the bulls purchased this drop aggressively. The bears made one more attempt to sink the price below £0.71001 on April 25 but the bulls again purchased at lower levels. This shows that traders are aggressively defending the £0.71001 support.
CRYPTOCURRENCY TECHNICAL ANALYSIS – HOW TO TRADE ADA TO GBP
After the sharp rally on April 25, the ADA/GBP pair is likely to face stiff resistance near £0.92873. If the price turns down from this level, the bears will make one more attempt to sink the price below £0.71001. If they succeed, a new downtrend could start. On the contrary, if the bulls propel the price above £0.92873, the pair could soar to the resistance of the range at £1.07197. If the price turns down from this resistance, the range-bound action is likely to continue.
ADA to GBP – HOW TO TRADE ADA/GBP 20TH APRIL 2021
The Cardano price GBP will face stiff resistance at £1.07197 and that is what happened. Although the price pierced the overhead resistance, the bulls could not sustain the breakout. This could have trapped the aggressive bulls who closed their positions and this long liquidation resulted in a sharp correction on April 18. Traders purchased the dip on April 18 but they could not sustain the price above the 20-day EMA on April 19.
CRYPTOCURRENCY TECHNICAL ANALYSIS – HOW TO TRADE CARDANO PRICE GBP
Renewed selling on rallies has dragged the ADA GBP price below the 50-day SMA. The bears will now try to sink the price to the £0.71001 support. This is an important support to watch out for. A strong rebound off £0.71001 will keep the ADA/GBP pair range-bound for a few days. Conversely, if the £0.71001 support cracks, the ADA GBP pair could extend its decline and plunge to £0.50. We will watch the price action at £0.71001 and then suggest a trade in it. Until then, traders may remain on the sidelines.
Cardano price – HOW TO TRADE ADA/GBP 13TH APRIL 2021
Cardano price GBP is currently range-bound between £0.71001 and £1.07197. The price action inside a range could be volatile and random. The positive sign is that the bulls did not allow the ada gbp price to dip below the 20-day EMA in the past few days. The buyers are now trying to push the price to the resistance of the range.
CRYPTOCURRENCY TECHNICAL ANALYSIS – HOW TO TRADE CARDANO PRICE GBP
On two previous occasions, the price had turned down from £1.07197. Therefore, the bears will try to defend it aggressively. If the price once again turns down from £1.07197, the ADA/GBP pair could extend its stay inside the range for a few more days. The first sign of strength will be a breakout and close above £1.07197. If that happens, the pair could rally to £1.43393. However, we do not find any reliable trading setups at the current level. Therefore, we are not recommending a trade in it.
ADA to GBP – HOW TO TRADE ADA/GBP 6TH APRIL 2021
Cardano price GBP has been clinging to the 20-day EMA for the past few days. The bulls attempted to push the price higher on April 2 and 3 but they could not cross the £0.90 barrier. The flat 20-day EMA and the RSI below 55 suggest a balance between supply and demand.
CRYPTOCURRENCY TECHNICAL ANALYSIS – HOW TO TRADE CARDANO PRICE GBP
It is very difficult to predict the direction of the breakout from a tight range. Therefore, it is best to wait for the Cardano price GBP to breakout and sustain the move before jumping in to buy or sell. If the bulls can drive the Cardano price GBP above the £0.90 to £0.935 resistance zone, the ADA/GBP pair could retest the all-time high at £1.07197. Conversely, if the bears sink the price below the 50-day SMA, the pair could drop to £0.71001. The next trending move could start after the price breaks above £1.07197 or breaks below £0.71001. Until then, the range-bound action may continue. We do not find any reliable trading setup at the current levels.
MARCH BLOGS
CARDANO PRICE GBP – HOW TO TRADE ADA/GBP 30TH MARCH 2021
Cardano price GBP remains stuck inside the £0.71001 to £1.07197 range. The bulls purchased the dip to the 50-day SMA on March 25 and pushed the price above the 20-day EMA on March 26. However, since then, the ADA/GBP pair has been trading in small range days, indicating indecision among the bulls and the bears about the next directional move.
CRYPTOCURRENCY TECHNICAL ANALYSIS – HOW TO TRADE ADA/GBP
The flat 20-day EMA and the RSI just above the midpoint also suggest a balance between supply and demand. If the bulls push the Cardano price GBP above £0.935, the pair may rally to the resistance of the range at £1.07197. A breakout of this resistance could start the next leg of the uptrend, but such a move looks unlikely at the moment. On the downside, the bears will gain the upper hand below £0.71001. The indicators are not pointing towards a clear directional move and the tight range Cardano price action also suggests indecision. However, if the uncertainty resolves with a sharp rise on the upside, short-term traders may buy at £0.94, expecting to book profits near £1.05. The stop-loss for this position could be kept below £0.84. This trade should be attempted if the price breaks out with strength, else traders may remain on the sidelines.
Cardano price GBP – HOW TO TRADE ADA/GBP 23RD MARCH 2021
Cardano price GBP found support at £0.71001 and the bulls started a strong rally on March 16, which pushed the price to £1.06 on March 18, but the bulls could not conquer the all-time high. This resulted in profit-booking, pulling the ADA/GBP below the 20-day EMA. ADA/GBP could now drop to the critical support at £0.71001. If the price rebounds off this level, it will suggest that the bulls are buying on dips. That could keep the Cardano price GBP range-bound between £0.71001 and £1.07197 for a few more days.
CRYPTOCURRENCY TECHNICAL ANALYSIS – HOW TO TRADE ADA/GBP
The flat 20-day EMA and the RSI near the midpoint also suggest a range-bound action for the next few days. This view will be negated if the bears sink the ADA/GBP below £0.71001. If that happens, the selling could intensify and the pair may drop to £0.58 and then £0.50. A trading opportunity could arise if the ADA/GBP rebounds off £0.71001. Traders may buy this bounce and keep the stop-loss below £0.70. Conversely, traders may remain on the sidelines if the £0.71001 support cracks.
Cardano price – HOW TO TRADE ADA/GBP 16TH MARCH 2021
The Cardano price GBP we had highlighted in the previous analysis that the failure to achieve a strong rebound off the 20-day EMA suggests a lack of buying support. Cardano broke below the 20-day EMA on March 12. Although the bulls tried to push the price back above the 20-day EMA on March 13, they could not hold on to the higher levels. This shows traders are booking profits on rallies.
CRYPTOCURRENCY TECHNICAL ANALYSIS – ADA/GBP
The 20-day EMA has flattened out and the RSI has dipped below 48, indicating that the bears are trying to make a comeback. If bears sink the Cardano price GBP below £0.58, the pair could drop to £0.50. A deeper correction could delay the start of the next leg of the uptrend. This bearish view will invalidate if the price turns up from the current levels and rises above £0.90. That could result in a retest of £1.07197.
Cardano price – HOW TO TRADE ADA/GBP 9TH MARCH 2021
Cardano Price GBP is currently consolidating in an uptrend. The bulls have been defending the 20-day EMA but have not been able to achieve a strong rebound off it. This suggests that the traders are not buying the current dip aggressively.
the 20-day EMA cracks, the Cardano price GBP could drop to £0.60 and then to £0.50. The 20-day EMA is flattening out and the RSI is gradually dropping towards the midpoint, suggesting a weakening momentum. Contrary to this assumption, if the price rebounds off the current level, the Cardano price GBP may retest £1.07197. A breakout and close above this resistance could start the next leg of the uptrend that may reach £1.23862.
HOW TO TRADE ADA/GBP
WHAT IS ADA?
ADA is a digital currency. Cardano ADA tokens are listed on many popular exchanges. Any user, located anywhere in the world, can use ADA as a secure exchange of value without a third party in between. Every transaction is permanently, securely, and transparently recorded on the Cardano blockchain.
HOW TO TRADE ADA/GBP?
Figuring out a way of how to invest in Cardano ADA tokens? Here we explain how you can trade ADA with GBP.
– Choose a cryptocurrency exchange:
For trading or investing in Cardano ADA tokens, you must first set up an account on the exchange. There are multiple cryptocurrency exchanges like eToro, Exmo, Kriptomat, Coinbase Digital, BC Bitcoin, CEX.IO, Binance,
Cryptocurrency brokers are the most common, and perhaps the easiest way to invest in ADA. They have user-friendly functions and let the users purchase crypto using GBP. They support various payment methods like bank transfer, internet payment, and debit cards and they usually charge a higher fee for your transactions.
Another way is trading platforms that allow users to purchase cryptocurrency based on sell orders on the market. They are far more complex than brokers and can be complex if you are new to the world of investing. These exchanges occasionally allow you to use GBP to buy ADA tokens.
– Buy ADA for GBP
Once you have decided on an exchange and opened your account completing the identification requirements set up by the platforms, you will be ready to buy ADA tokens.
Purchasing Cardano through a broker platform is the easiest. All you need to do is feed in the amount of ADA you wish to buy and then pay using any of the payment methods supported by the broker’s platform. Once the transaction is confirmed, the cryptocurrency will be released into your exchange account, ready to be sent to a wallet or anywhere else you want.
Using a trading platform can be a little complex if you are new, but the process typically isn’t too overwhelming. You need to deposit funds into your account before you trade. Once the deposit is done you can trade GBP for ADA. The rate will appear in the market as GBP/ ADA once you figure out this you can simply place an order in the market as per the price you want to buy it at and if the order matches, you’ll get the ADA tokens for GBP.
WHERE TO KEEP YOUR ADA TOKENS?
Once you receive your ADA tokens you may want to move them in a wallet. Cardano offers a purpose-built wallet called Daedalus and setting up the wallet is easy. It’s a secure multi-function desktop wallet that can be exported to a paper wallet for extra security. Daedalus is currently supported on all major platforms, including Windows, Linux, and macOS systems. Users can store ADA tokens on Daeldus and can earn additional tokens as rewards over a while. Another advantage is the added security, wallets like Daedalus are locked using a multi-tiered security system, which utilizes multiple passwords and a rigorous hack-prevention system.
Exchanges also store your ADA tokens. While this does leave your funds in the hands of a third party, most major exchanges are insured so the risk of losing your crypto is still relatively low. On exchanges, you can use your ADA tokens for trading and exchange them for other currencies or crypto coins.
Hopefully, you have enjoyed today’s article. Thanks for reading! Have a fantastic day! Live from the Platinum Crypto Trading Floor.
Earnings Disclaimer: The information you’ll find in this article is for educational purpose only. We make no promise or guarantee of income or earnings. You have to do some work, use your best judgement and perform due diligence before using the information in this article. Your success is still up to you. Nothing in this article is intended to be professional, legal, financial and/or accounting advice. Always seek competent advice from professionals in these matters. If you break the city or other local laws, we will not be held liable for any damages you incu
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