- Cardano (ADA) gives a positive rally after a breakout from the descending triangle pattern bounces from the 200-DMA
- The pair of ADA/BTC trading in red with an intraday loss of -2.49% standing at 0.00000729 BTC
Cardano (ADA) on the monthly chart gives a positive breakout from the descending triangle pattern. After a positive breakout, it hits a level of $0.1820 and now acting as the minor resistance over the monthly chart. A rising channel pattern is formed after a breakout. The important level to watch is 200-DMA as, after this rally, it is acting as the support. After clearing the resistance, the target on the higher side is $0.2000 and $0.2250. The resistance is placed at $0.1820 and $0.1900. On the other hand, support is placed at $0.1300 and $0.1000. The volume jumps from the previous levels indicating a bull’s arrival at the current levels.
Cardano’s intraday chart is trading in the rising channel pattern on the intraday chart, as making the lower bottom and the higher top pattern indicates the bullish momentum. Currently trading at the price level of $0.1620 with intraday loss of -4.12%, supported by the volume traded in the last 24-Hours of $1,169,081,827, and the total market capitalization stands at $5,039,065,512. The intraday range of coins is $0.1590 and $0.1745 as the lows and high, respectively.
The Relative Strength Index (RSI) indicates the strength of the ADA. It is trading at 39.15 after a sharp fall from the higher levels, currently trading flat, indicating no major recovery from current levels.
Moving Average Convergence Divergence (MACD) currently indicates the bearish trend on the intraday chart as it gives a negative crossover with the significance of Bear’s line (red) over Bull’s line (blue) with no sign of recovery.
Support levels: $0.1300 and $0.1000
Resistance levels: $0.1820 and $0.1900