- Cardano performed negative momentum on Monday’s trading session
- Cardano price is $0.3516, which is down by 1.89% in last 24 hour time frame and is 6.69% down from the previous week
- ADA/BTC pair is negative with a loss of 3.01% in Monday’s trading session (0.00001063)
Cardano had positive momentum on the weekly chart, and it went up to $0.3955 on January 17, 2021, while breaking above the resistance zone. Cardano price set a mark of 52-week high with help of overall market conditions. The ADA/ETH pair is also in a downtrend with a value of 0.75% in Monday’s trading session (0.0002520).
Cardano Technical Chart Reflects A Sideways Momentum
The technical chart of Cardano highlights a negative trend due to overall market conditions on Monday’s trading session. Cardano price is $0.3516, with a resistance zone of $0.4023, following the support zone of $0.3119. Diving into the weekly chart of a 15-minute time frame, it forms a belt hold bullish candlestick pattern, indicating the bulls have overwhelmed the bears and are now in control.
The Volume indicator of value (1.403M) reflects a low selling volume in coin due to the overall market’s condition. One can further see an increase in selling volume in the next few trading sessions.
MACD indicator (Neutral), no bearish or bullish crossover signal line is spotted on January 25, 2021, during the trading session, it indicates a neutral signal in the coin. Also, it denotes the end of green or red bars in the Histogram.
Meanwhile, the RSI indicator (Neutral) with a value of 50 indicates a neutral signal in the coin. For the upcoming trading, session trend remains unclear.
Conclusion
Cardano price is down by 1.89% on Monday’s trading session. The price is consolidating and struggling between the resistance of $0.4023 and support zone of $0.3119. Investors can expect a neutral trend in the coin, as all technical indicators suggest for the next few trading sessions.
Resistance: $0.4023
Support: $0.3119
