Quick TA on Cardano,
Sitting at 1000 sats, ADA seems to be testing its overhead resistance (previous support) level. Coinciding with the short term moving average (in green), it remains to be seen if it gets rejected. If this fails, we may see ADA fall back down to the 850-900 sats range.
This is a crucial big even level and psychological barrier for ADA. Breaking through this level will mean retesting another resistance at the downtrend resistance line (in blue) around 1100 sats. Stoch RSI still strong, but will need more volume in order to have a chance at the longer term moving average (in red). Look out for a MACD cross for the stars to align and we may turn bullish.
Sitting at 1000 sats, ADA seems to be testing its overhead resistance (previous support) level. Coinciding with the short term moving average (in green), it remains to be seen if it gets rejected. If this fails, we may see ADA fall back down to the 850-900 sats range.
This is a crucial big even level and psychological barrier for ADA. Breaking through this level will mean retesting another resistance at the downtrend resistance line (in blue) around 1100 sats. Stoch RSI still strong, but will need more volume in order to have a chance at the longer term moving average (in red). Look out for a MACD cross for the stars to align and we may turn bullish.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.