Cardano (ADA) technical analysis:
Trade setup: After a big drawdown to $0.25 support, price has been steadily recovering in an Ascending Triangle pattern. We wait for a breakout from the pattern, above $0.30 resistance, with upside to $0.35 (200-day MA) or even $0.40.
Trend: Downtrend across all time horizons (Short- Medium- and Long-Term).
Momentum is Mixed as MACD Line is above MACD Signal Line (Bullish) but RSI < 45 (Bearish). MACD Histogram bars are declining, which suggests that momentum is weakening.
Support and Resistance: Nearest Support Zone is $0.25. The nearest Resistance Zone is $0.30 (previous support), then $0.40, and $0.50.
Trade setup: After a big drawdown to $0.25 support, price has been steadily recovering in an Ascending Triangle pattern. We wait for a breakout from the pattern, above $0.30 resistance, with upside to $0.35 (200-day MA) or even $0.40.
Trend: Downtrend across all time horizons (Short- Medium- and Long-Term).
Momentum is Mixed as MACD Line is above MACD Signal Line (Bullish) but RSI < 45 (Bearish). MACD Histogram bars are declining, which suggests that momentum is weakening.
Support and Resistance: Nearest Support Zone is $0.25. The nearest Resistance Zone is $0.30 (previous support), then $0.40, and $0.50.
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