Negative news related to postponing of Ardana (DANA), a DeFi project, based on Cardano blockchain continues to make investors reluctant to return on ADA`s market. This is why volumes of trading continue to be extremely low, putting the coin into the side trading. Price range of ADA during the previous week was within a range of 2 points, from $0.30 support line up to $0.32, where the coin is finishing the week.
RSI was moved from the level of 42 up to 45. It was some progress in line with the spot price, but still shows a relatively weak market for this coin, and its thought time to head toward the overbought side of the market. Moving averages of 50 and 200 days continue with their downtrend as two parallel lines. There is no single signal over a potential cross anytime soon.
Charts are pointing that side trading might continue further for ADA. In this sense, the support line at $0.30 might be tested again in the coming week. On the upper side, there is probability for level of $0.33, with decreased probability that resistance at $0.35 might be reached.
RSI was moved from the level of 42 up to 45. It was some progress in line with the spot price, but still shows a relatively weak market for this coin, and its thought time to head toward the overbought side of the market. Moving averages of 50 and 200 days continue with their downtrend as two parallel lines. There is no single signal over a potential cross anytime soon.
Charts are pointing that side trading might continue further for ADA. In this sense, the support line at $0.30 might be tested again in the coming week. On the upper side, there is probability for level of $0.33, with decreased probability that resistance at $0.35 might be reached.
