ADA/USD has made new lows this morning and fell to a value not seen since the 19^th of March, putting speculators on a nervous edge as sentiment is considered.

In fast and volatile early trading this morning, ADA/USD is above the 87 cents mark.  However, only a little while ago, Cardano tested lows near the 0.85420000 vicinity which is a value that had not been touched since the 19^th of March. ADA/USD has mirrored the results from the broad cryptocurrency market and strong selling certainly was a factor this past weekend, without the aid of any strong reversals taking place. This morning’s brief upside move may prove to be momentary.

Technical traders will have to long at mid-term charts to consider where possible support levels may prove to be strong. Unfortunately, this newest cycle of selling which has developed since the last days of March has proven resilient. ADA/USD traders now have to consider the prospect that the rise in prices generated from the 14^th of March until the 28^th of that month was in fact a false rally, and that the long term bearish trend is still in control.

Having touched new short term lows this morning below 86 cents, ADA/USD traders should watch the current price of Cardano carefully. Quick and volatile trading conditions are likely to continue near term. If ADA/USD cannot sustain its 0.87050000 mark and falls below this and starts to test short term support levels again near the 0.86750000 to 0.8643000 levels, this would certainly not be a good sign for bullish activity.

Yes, bullish speculators looking for sudden reversals higher can wager on upside.  However in order to take advantage of upturns, entry price orders will be needed to protect fills and take profit targets will have to be kept realistic. The trend in ADA/USD has been downward, and until a strong amount of buying is demonstrated in Cardano and the broad digital asset market gathers some equilibrium, new lows may be exhibited.

If support falters and the 85 cents level again comes into view, traders should consider the prospect that a move towards lows seen in the second week of March may come into play for ADA/USD.  Sellers also should remain cautious and not overextend a trade to seek additional riches when solid profits have already be attained.

Short sellers should certainly follow momentum. If the trend remains bearish pursuing lower price depth may prove to be logical, but traders should also cash in winning trades before slight reversals.  Take profit orders and careful choices of leverage should be used by all speculators.

Cardano Short-Term Outlook

Current Resistance: 0.87660000

Current Support: 0.86530000

High Target: 0.90780000

Low Target: 0.82910000

AVAX/USD has fallen to fresh lows in early trading, and it is now pressed up against important mid-March support which should be watched.

After moving above 90.55000000 on the 8^th of March and acting like it may challenge a higher price range seen in late March and early April, AVAX/USD has turned downward. The trend being generated in Avalanche is mirroring the results of most other major cryptocurrencies, and the downturn in AVA/USD is approaching important support levels which may make speculators nervous.

Only one week ago, dips in AVAX/USD could have been interpreted as buying opportunities by bullish technical traders.  And some speculators still may feel that way, but the onslaught of lower moves seen the past week have been strong and unfortunately for some traders perhaps going into today’s trading session, price velocity down has quickened. Suddenly, AVAX/USD is near important junctures last sincerely tested on 18^th of March.

Support which is nearby at the 78.7500000 should be watched. If this level begins to look vulnerable this could set off alarm bells among not only bullish traders who may feel the ‘expensive’ heat of a downward trajectory, but could indicate a stronger tide lower.  If current support levels falter and the 76.00000000 mark were to be challenged, this would then bring AVAX/USD into a price realm which would be within sight of crucial mid-term lows.

Any moves lower from the current price range of AVAX/USD will continue to raise nervous sentiment. Since the 14^th of March the broad cryptocurrency market had taken a rather intriguing upwards climb and broken through plenty of rather durable resistance levels with relative ease. On the 14^th of March AVAX/USD was trading near 65.90000000, which had it traversing near important lows seen in February.

If the development of a bearish trend in the past week continues to be demonstrated and current support levels are proven weak, this would be a bad sign. The long term down trend in the broad cryptocurrency market has been easy to define, recent trading since the middle of March did show the capability of a rebound higher. A retest of lower support may make plenty of speculators feel as if they have been tricked by a false breakout, including the AVAX/USD crowd.

Some bullish optimists may believe the recent selloff exhibited within AVAX/USD is merely a temporary burst of headwinds.  However, any trader looking to take a long position of AVAX/USD is advised to use secure stop loss orders, to guard against the potential of another round of nervous selling igniting in the near term. Traders should expect plenty of volatility today as Avalanche swims in dangerous waters.

Avalanche Short-Term Outlook

Current Resistance: 80.21000000

Current Support: 78.75000000

High Target: 84.82000000

Low Target: 75.40000000