Cardano (ADA): is $0.4 next?

A positive sentiment on the crypto market continued for a second consecutive week, which also supported the price of ADA. The coin started the previous week around $0.33 level, and during the week was gradually building its road to the higher grounds, till the level of $0.38. For some reason, the $0.40 resistance line is still a hard task for ADA at current turbulent times on financial markets. But, on the other hand, the increase in price shows that investors still have confidence in this coin.

During the week the RSI crossed the 50 line and moved to the highest level at 57. This could be treated as a positive signal, considering that the investors are still more oriented toward the upside, and overbought market side. Moving averages of 50 and 200 days for the last three weeks are moving side by side as one line, which is quite rarely seen on the charts. It is currently quite hard to say if the cross will occur or not.

ADA is gradually building its higher grounds, but still missing the $0.40 resistance line. If markets continue with a positive mood, this might be a target of ADA for the week ahead. On the opposite side, the coin could also modestly revert to $0.35 support, to test it for one more time.


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