News regarding forthcoming release of a toolkit for Cardano`s network, which should increase scalability of the Cardano`s network, continue to support ADA`s price. During the previous week the coin reached a new yearly high at level of $0.37, while the lowest level during the week was at level of $0.32.
The RSI indicator continues to move within the overbought market side, indicating that the short reversal might soon come for this coin. At the same time, there has not been almost any change in movements of MA50 and MA200. These two lines continue to move as two parallel lines with downtrend, regardless of positive price movements during the last two weeks.
ADA will certainly be further supported by the coming of the new fork. Short price reversal is possible, considering that RSI is indicating it for the last two weeks. Current charts are pointing that it could be a level of $0.32 for one more time, but testing of the $0.30 support line is with lower probability. On the opposite side, ADA will continue to test current resistance at $0.40.
The RSI indicator continues to move within the overbought market side, indicating that the short reversal might soon come for this coin. At the same time, there has not been almost any change in movements of MA50 and MA200. These two lines continue to move as two parallel lines with downtrend, regardless of positive price movements during the last two weeks.
ADA will certainly be further supported by the coming of the new fork. Short price reversal is possible, considering that RSI is indicating it for the last two weeks. Current charts are pointing that it could be a level of $0.32 for one more time, but testing of the $0.30 support line is with lower probability. On the opposite side, ADA will continue to test current resistance at $0.40.
