Chart by TradingView
After a significant push higher, buyers are taking a break as the bullish momentum stalls.
Key Support levels: $0.28
Key Resistance levels: $0.32, $0.35
ADA has reconfirmed the 28 cents as key support after buyers failed to take the price higher. This is a normal pullback considering the rapid increase in the price from a week earlier.
To sustain the bullish bias, Cardano has to hold here, otherwise, sellers may take control of the price action again.
Trading Volume: The volume has decreased over the weekend, and market participants don’t seem too interested in making any decisive moves at this time.
RSI: The daily RSI failed to reach 50 points and is curving down. If it reminds under this level, bears could return.
MACD: While the daily MACD is bullish, the histogram is turning flat. If buyers don’t return soon, the MACD could start to fall.
The bias for ADA is neutral.
ADA is likely to continue holding at the key support before a major move follows. If buyers manage to return in force, then the next key level of resistance is found at 32 cents.
