- Cardano coin has been trading sideways for the past few weeks and is now placed just above its critical support line of 100-day moving average line.
- The digital asset is stucked under the narrow range while placed above its vital moving averages of 100 and 200-day lines and facing a minor hurdle of its short-term moving averages of 20 and 50-day lines.
- The pair of ADA/BTC is trading at 0.00003549 BTC with an intraday gain of +2.52%, and the ratio of ADA/ETH is CMP at 0.0005399 ETH with a 24-hour change +1.38%.
Cardano coin seems to get ready for a strong rally after a good consolidation over the monthly chart. While the token is stuck under the narrow range and volume action is also increases gradually. At the current situation, ADA is trading between its short to medium-term moving averages of 50 and 100-day lines. Either side breakout in upcoming trading sessions will boost more significant momentum, which requires more volume activity.
Volume over the chart is increasing over and jumps above its average volume line and needs to improve more. We can expect a strong up move once the token jumps above its SMA of 20 and 50-day lines, with supportive volume action. Support on the lower side is $2.00 and $1.92, whereas resistance on the higher side is $2.31 and $2.48.
Cardano coin at the weekly chart is trading sideways, with the lower volume active
Cardano coin at the weekly chart is trading sideways, with the lower volume active. In contrast, the technical parameter is projecting sideways action or mixed action over the 4-hour time frame. Volume at the chart is still lower and needs to improve enormously for a substantial upside in upcoming trading sessions. ADA is trading at $2.15 with an intraday dip of -1.66%, and the volume to market cap ratio is 0.03665.
Relative Strength Index (NEUTRAL): Cardano coin RSI is heading sideways over the weekly chart. In contrast, the coin is trading sideways and projects slight caution with longs and RSI at 47.
Moving Average Convergence Divergence (MIXED): The daily chart projects a neutral trend at the 4-hour time frame. At the same time, the buyer’s signal line (green) and the seller’s line (red) overlap each other.
Support levels: $2.00 and $1.92
Resistance levels: $2.31 and $2.48.
