ADAUSD
Cardano has been hammered in the past during the current bear market, but this is now become a really enticing price to pick up some amount of ADA.
Cardano has traded within the Downtrending Parallel Channel as seen within the above mentioned chart.
A support zone is now placed at 0.118.
A move to 0.20 can be witnessed if price increase has been supported by volume.Volume is currently extremely high and signals a bottom is in place at the moment.
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Comment:
A breakout has been witnessed on the lower time frame.
A daily close above out downtrending channel would signal a move to begin trading long.
Keep an eye on the Light Blue moving average as that could act as resistance and also as a indicator to the future trend.
A daily close above out downtrending channel would signal a move to begin trading long.
Keep an eye on the Light Blue moving average as that could act as resistance and also as a indicator to the future trend.
Look for a price - volume breakout before buying some ADA.