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Cardano's ADA fails to take out pivotal resistance
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Technician's Take

By Omkar Godbole

Cardano's ADA fails to take out pivotal resistance

ADA's daily chart (Source: TradingView) 

ADA was nursing losses at press time, having failed to penetrate the four-month descending trendline early Tuesday. 
 
The failure has neutralized the immediate bullish bias, establishing the descending trendline as the level to beat for the bulls. 
 
A UTC close higher would also confirm a breakout above the horizontal resistance of $1.59, opening doors for further gains. 

ICYMI

In case you missed it, here are the most recent episodes of "First Mover" on CoinDesk TV:

 

Crypto Market Seesaw, Bringing Bitcoin to Retail Locations Near You

Cash transfer company MoneyGram is doubling down on its partnership with Coinme, investing in the crypto-cash exchange for a 4% ownership stake. MoneyGram CEO Alexander Holmes and Coinme CEO Neil Bergquist join "First Mover" to discuss their expansion plans and partnership, making it possible for consumers to purchase bitcoin at thousands of U.S. retail locations. Plus, what to make of the latest crypto market ups and downs? Brad Roth of Thor Financial shares his analysis and outlook.

Disclaimer: The information presented in this message is intended as a news item that provides a brief summary of various events and developments that affect, or that might in the future affect, the value of one or more of the cryptocurrencies described above. The information contained in this message, and any information liked through the items contained herein, is not intended to provide sufficient information to form the basis for an investment decision. The information presented herein is accurate only as of its date, and it was not prepared by a research analyst or other investment professional. You should seek additional information regarding the merits and risks of investing in any cryptocurrency before deciding to purchase or sell any such instruments. 

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