3 min readCARDONA (ADA/USD):
Cardano has been an intriguing Altcoin to follow in recent weeks. It appears to be finding support along an ascending trend line and is currently trading just above $0.34. If we regain momentum and start moving upward, it wouldn’t be surprising to see the price climb towards the key psychological level of around $0.40.
A closer look at the technicals reveals that the price has clearly broken and perfectly retested the trend line. We’ve also retested the 50% Fibonacci level, and the RSI indicator suggests that the price action is neither overbought or oversold. Currently, we are trading just above a minor internal support area, so it will be interesting to see whether we can maintain this level or if the price continues to move lower.
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The financial products offered by the Company are complex and come with a high risk of losing money rapidly due to leverage. These products may not be suitable for all investors. Before engaging, you should consider whether you understand how these leveraged products work and whether you can afford the high risk of losing your money.
The Company does not accept clients from the Restricted Jurisdictions as indicated in our website/ T&C. Some services or products may not be available in your jurisdiction.
The applicable legal entity and its respective products and services depend on the client’s country of residence and the entity with which the client has established a contractual relationship during registration.
