3 min readCARDANO (ADA/USD):
The price action has experienced significant upward momentum over the past few weeks. Currently, we are trading slightly above $1.00, with the price appearing poised to advance further into the internal resistance zone near $1.20.
Examining the technical indicators more closely, it’s evident that the price appears overextended on the RSI, having surged above the 70% threshold. Should there be any short-term pullbacks, I’ll be watching to see if the price rebalances around the 50% Fibonacci level, which aligns with the internal resistance zone that could potentially transition into a support area.
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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.
