It was a very good week for ADA. Investors' confidence is back and it has been clearly seen through the price of the coin and its moves since the beginning of this year. In addition, on Valentine's day, the Cardano network successfully implemented another hard fork, which will increase Cardano`s interoperability with other major blockchains, i.e. bitcoin and ethereum. ADA`s price reached level of $0,42 as of the end of the week, still, it ended the week around $0,40.
RSI indicator reached level of 63, during the week, still, it is ending a bit lower, around 54. It still shows that market participants are still not ready to leave the coin to head toward the oversold side. Moving averages of 50 and 200 days are slowly converging toward each other, which is a quite positive sign, and indicates a potential cross in the near future.
During the previous week, ADA managed to clearly pass the $0,40 resistance line. Coin is still moving around this level, which indicates the probability that this line will be tested in the coming days. In case that it is not clearly breached, then ADA might revert to the upside, slowly toward the $0,45 next resistance. However, charts are pointing to the probability of short testing of $0,38 level for one more time.
RSI indicator reached level of 63, during the week, still, it is ending a bit lower, around 54. It still shows that market participants are still not ready to leave the coin to head toward the oversold side. Moving averages of 50 and 200 days are slowly converging toward each other, which is a quite positive sign, and indicates a potential cross in the near future.
During the previous week, ADA managed to clearly pass the $0,40 resistance line. Coin is still moving around this level, which indicates the probability that this line will be tested in the coming days. In case that it is not clearly breached, then ADA might revert to the upside, slowly toward the $0,45 next resistance. However, charts are pointing to the probability of short testing of $0,38 level for one more time.
