Cardano: side trading is most probableGeneral negative market sentiment pushed the price of ADA to the lower grounds as of the weekend trading. During the whole week, the coin was side traded around $0.45 support line, which was finally broken as of the weekend trading session, when ADA reached weekly minimum at $0.42. On a positive side is that the $0.40 support line has not been tested and that as of Saturdays trading buying order started to emerge.
During the week RSI modestly moved to the downside and to the level of 34, but in line with coin`s side trading, the indicator was moving between 40 and 34 during the week. Moving averages of 50 and 200 days are currently moving as two parallel lines, waiting for ADA to move from side trading in order to clearly start their convergence.
Current charts are showing increased probability for ADA to continue with its side trading. Emerging buying orders as of the weekend are pointing that the coin is probably ready to return to the previous level around $0.45 where it will continue to oscillate.