COINPEDIA

ADA clears off parallel channel, up or down?

KRAKEN:ADAUSD   Cardano / U. S. Dollar
Cardano, a significant cryptocurrency in the market, was having its price fluctuating in the last week. With varying highs and lows, the price was moving in a broad range within $1 and $2. However, the movements became steady in the past few days. It was moving between $1.65 and $1.7. Earlier today, the price diverted upwards from this range approaching a $2 mark. As soon as it touched $1.74, it began dipping with stagnant bearish candles. Following this, the price surged to 1.72. Currently with bears in hand the price might dip down if they close at lower values to $1.70. In the coming hours, if some bulls fall in place the price might sail high. RSI begins to drop near 58, buying pressure adheres.

Resistance level seen at $1.69
Support levels fall at $1.67

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