CARDANO acquires for itself support in the tandem of moving averages. Ahead of the price has an obstacle, to which it seeks. What's next? Will the price reach 0.5500?
So, after the active rise of the market capitalization, the coin strengthens and breaks through the resistance area between MA-50 and MA-200 and forms a consolidation above these lines, which play the role of support at the moment. The coin seeks to change the local trend. Re-test of the resistance area is forming (liquidity area and descending resistance line). In case of breakout of the lines, the coin may show active course towards 0.5500.
I expect a breakout of the resistance area in the near future, it seems that the cryptocurrency market rate is stepped up in the direction of capitalization increase and strengthening of positions. Therefore I choose the resistance area 0.4500 and 0.5500 as a medium-term target, liquidity area 0.7000 as a long-term target.