Cardano has been in a constant since the start of 2018. Looking at the , it can be seen that the bands have slowly come apart and seem to be moving slowly together indicating a chance for higher in the near future. Along with this the small triangle indicates there will be a break from the price very soon.
The strong above the 78.6% fib retracement level was the most significant used level supporting the price from falling below, so it can be assumed that it will in turn into a strong resistance should the price break into the direction.
The indicator states that ADA has been extremely oversold for a little under a month. This could be seen as an opportunity to buy for some traders and see the price move in the direction.
Important Resistance Levels: 3085, 3761
Important Support levels: 1274, 541
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