In the past 48 hours, the price of Cardano (ADA) has been moving in the zone of the uptrend. The altcoin recovered from the support at $1.15, broke above the moving averages and then reached the high of $1.60.
Buyers failed to continue the bullish momentum above the $1.60 high as the altcoin faces rejection. If the altcoin falls and finds support above the moving average, the bullish momentum will likely repeat. A break above the high at $1.60 will drive ADA to the next resistance at $2.40. On the other hand, if the bears break below the moving averages, the downtrend will resume. Cardano will fall back to the previous low of $1.15.
Анализа на кардио индикаторот
The ADA price is at the 51 level of the Relative Strength Index for period 14, indicating that there is a balance between supply and demand. Currently, the price bars are above the moving averages, indicating that the market may resume its upward movement. The moving averages of the 21-day line and the 50-day line are sloping south, indicating a downtrend. ADA price is below the 20% area of the daily stochastic. Cardano is now in the oversold region of the market.
Технички индикатори
Зони на отпорност на клуч: 3.00 долари, 3.50 долари, 4.00 долари
Главни зони за поддршка: 2.50, 2.00 долари, 1.50 долари
Кој е следниот потег за Кардано?
The price of Cardano has been on a downward trend after rejecting the high at $1.60. The price of the cryptocurrency could continue to decline if it falls below the moving averages. Meanwhile, the price completed a downtrend on January 18. A retraced candle tested the 61.8% Fibonacci retracement level. The retracement suggests that ADA will fall to the Fibonacci extension level of 1.618 or the level of $1.28.
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Source: https://coinidol.com/cardano-decline-1-40/