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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