Cardano (ADA) technical analysis:
Trade setup: Bullish Breakout from Falling Wedge pattern. (above $0.30 resistance), with robust volume, to signal trend reversal. Price could revisit $0.40 horizontal resistance zone (also 200-day moving average).
Pattern: Falling Wedge typically results in a bullish breakout. When price breaks the upper trend line the price is expected to trend higher.
Trend: Uptrend on Short- and Medium-Term basis and Downtrend on Long-Term basis.
Momentum is Bullish (MACD Line is above MACD Signal Line and RSI is above 55).
Support and Resistance: Nearest Support Zone is $0.30 (previous resistance), then $0.25. The nearest Resistance Zone is $0.40, then $0.50.
Trade setup: Bullish Breakout from Falling Wedge pattern. (above $0.30 resistance), with robust volume, to signal trend reversal. Price could revisit $0.40 horizontal resistance zone (also 200-day moving average).
Pattern: Falling Wedge typically results in a bullish breakout. When price breaks the upper trend line the price is expected to trend higher.
Trend: Uptrend on Short- and Medium-Term basis and Downtrend on Long-Term basis.
Momentum is Bullish (MACD Line is above MACD Signal Line and RSI is above 55).
Support and Resistance: Nearest Support Zone is $0.30 (previous resistance), then $0.25. The nearest Resistance Zone is $0.40, then $0.50.