3 min readCARDONA (ADA/USD):
Cardano’s price action has surged to new highs over the past week following Trump’s election to the presidency. The asset has gained over 50% in just a week, marking a remarkable upward movement.
A closer look at the technicals reveals several key targets on the weekly timeframe that we could reach before any potential downward movement. In the short term, I’m particularly interested in how price action responds to the resistance zone around $0.75. Observing the RSI indicator, it’s evident that we haven’t yet breached the 70% level, suggesting that the asset may not be overbought at this stage.
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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.
