3 min readCARDONA (ADA/USD):
On the daily timeframe, it’s evident that ADA has been maintaining strong support in the $0.27 to $0.30 range. Lately, there hasn’t been much focus on ADA, and it seems to be underperforming compared to some of the other higher-cap coins. I’m curious to see if this upward trend can continue towards the $0.40 level.
Taking a closer look at the technicals reveals that we’ve clearly broken out of the daily descending trendline and are now trading within a short-term resistance zone, aligned with the key psychological level of $0.40. We’re also approaching the 70% mark on the RSI indicator. I’ll be watching this pair closely to see if we can break through this resistance, or if it holds, causing a pullback before resuming the upward trend.
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