Why Cardano traders should bid adieu to a possible bullish week ahead
Reading now: 317
ambcrypto.comCardano has traded within a down-channel for a month now, with a solitary breakout rejected immediately at $2.37-resistance. Presently challenging the mid-line of its pattern, ADA needed to tackle its 20-SMA (red) in order to register a new high at the upper trendline.
However, weak readings on the RSI and Awesome Oscillator positioned ADA for another woeful week of trade. That is, if bears are able to restrict the price below the 78.6% Fibonacci level. At the time of writing, ADA traded at $1.87, down by 2.75% over the last 24 hours.
Source: ADA/USD, TradingView
Although ADA seems to have avoided a down-channel breakdown, the price needed to surpass some major hurdles to touch another high at the upper trendline. Firstly, ADA would need to
Read more on ambcrypto.comAbout this in other media
Show more
The website gocryptonft.com is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
