ADA has been holding back from a long time. I think this is because we are currently in an accumulation zone and this graph might possibly indicate be that zone.
The first accumulation zone of ADA that lasted from 23rd Dec to 6th Feb, a total of 45 days.
In both the zones, after we broke out of the first zone, we made a 3x gains. And the first accumulation zone...
ADA has made fresh high in the last two weeks and has been consolidating on the downside forming a good triangle structure. Price sustaining can see ADA breaking out on the top side.
Volumes have fallen from the highs. Good volume is required for a good upmove. Otherwise we might see a breakdown.
Cardano (ADA) moving towards the support of $ 0.77 while taking the support at the lower levels of supply zone
The pair of ADA/BTC is trading on the Bearish note, presently trading at 0.00001958 BTC with an intraday loss of 0.46%
ADA price is down by 5% on Tuesday's trading session. The price is above the SMA of $0.63 Investors may expect the movement of price towards the support level of $0.80 if it sustains below the price may hit $0.70 All technical indicators recommend a sell signal in the coin.
Cardano performed a positive momentum on Thursday’s trading session
ADA price is $0.9133, which is up by 17.34% in the last 24-hour time-frame and 109.08% up from the previous week
ADA/BTC pair is negative with a loss of 2.67% in Thursday’s trading session (0.00002042)
Cardano performed a positive momentum on Tuesday’s trading session
ADA price is $0.6763, which is up by 1.62% in the last 24-hour time-frame and 67.72% up from the previous week
ADA/BTC pair is negative with a loss of 0.55% in Tuesday’s trading session (0.00001465)
Cardano performed a positive momentum on Friday’s trading session
ADA price is $0.4982, which is up by 16.50% in last 24-hour time-frame and 40.30% up from the previous week
ADA/BTC pair is positive with a gain of 11.43% in Friday’s trading session (0.00001336)
Cardano performed a sideways momentum on Monday’s trading session
ADA price is $0.3521, which is down by 1.15% in last 24-hour time-frame and 1.42% down from the previous week
ADA/BTC pair is negative with a loss of 0.86% in Monday’s trading session (0.00001031)
ADAUSD is moving in a symmetrical triangle pattern and has retested its support and resistance quite a few times. There are chances for a breakout in next few days. Let's see how it pans out.
Disclaimer: - These views are for educational purpose only and not a recommendation.