- Cardano token trading under narrow channel pattern, while trading under the short to medium term moving averages of 20, 50, and 100-days lines.
- The crypto asset is currently trying to hold its support line of 100-DMA line while facing minor rejection from its short-term moving averages of 20 and 50-day lines.
- The pair of ADA/BTC is trading at 0.00003768 BTC with a minor intraday loss of -0.57%, and the ratio of ADA/ETH is CMP at 0.0006003 ETH with an intraday dip of -0.82%.
Cardano token at the monthly chart is trading on a positive note while facing slight rejection from its short-term moving average lines. The digital asset over the monthly chart is trading just above its 100-day moving average line, has also been considered a baseline. The coin is facing slight rejection of its short-term moving average line of 20 and 50-day lines. Meanwhile, ADA, at the same time it has good support of 100-DMA line and also witnesses good bounce from lower levels.
Volume over the monthly chart is recorded lower and continuously heading towards the lower levels, which needs to improve in upcoming sessions. Support on the lower side is $2.04 and $1.92, whereas resistance on the higher side is $2.39 and $2.64.
Cardano token is trading under the sideways channel, with low volume
Cardano token at the weekly chart is trading under the sideways channel, while the volume over the chart is lower. The technical parameters are also suggesting the same momentum, with no sign of significant momentum. Volume at the 4-hour time frame is lower and needs to improve to break out from the range-bound zone. ADA price is trading at $2.17 with an intraday gain of +3.92%, and the volume to market cap ratio is 0.03846
Relative Strength Index (NEUTRAL): Cardano token RSI is trading sideways, recovering from the lower levels. The coin is trading sideways with no sign of significant move and RSI at 51.
Moving Average Convergence Divergence (NEUTRAL): The daily chart indicates a mixed trend at the 4-hour time frame. At the same time, the buyer’s signal line (green) and the seller’s line overlap each other.
Support levels: $2.04 and $1.92
Resistance levels: $2.39 and $2.64.