ADA Price Persisting On The Rising Channel Pattern

The technical chart of Cardano reflects on the strong positive bounceback made by the price levels after testing the critical support line of 0.618fib level. With the help of positive sentiments emerging in the overall market conditions from the past couple of trading sessions, the price levels were able to have a positive breakout above the resistance line placed at 0.236fib level. It also indicates that the levels have now again entered critical resistance area and one can expect some volatility from the digital asset.

The relative strength index ( RSI ) have retraced back after multiple testing of the overbought line but were unable to have a positive breakout. The current level stands at 55. 40 .

The moving average convergence & divergecne ( MACD ) have consolidated for the day after climbing above the histogram line.

The directional movement index (DMI) is showcasing positive nature as +DI remains above -DI and ADX , respectively.
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