Investing.com – At the 10-day line at $ 1.88 emerged as support on Tuesday / Wednesday. The listed average line acted as a stepping stone for a visible price recovery. We communicated that yesterday in our daily Cardano report.
So it said in the report with the title “”:
“A first correction target is now setting the former breakout level at 1.95 / 1.96 dollars before the 10-day line at 1.88 dollars comes back into play.”
But as a prerequisite for a resumption of the overall upward trend, we had also written that the resistance from the 5-day line and the 78.60% Fibonacci retracement of the entire downward movement since mid-May in the area around $ 2.13 / 2.165 had to be regained to revive rally potential to May 17th high of $ 2,322. This price mark is also a transition point for a move to the record high of $ 2.463 and beyond.
This assessment is still valid today, whereby today’s day candle with the full green candle body is a strong signal and impressively underlines the “power” of the Cardano bulls. Such course behavior usually suggests a new rally attempt.
A notice: This article does not constitute investment advice or a solicitation to buy or sell any assets. Nor does the article purport to predict the development of the Cardano price. It is only a subsequent comment on the ADA development, the Cardano investors about the latest crypto news and the technical starting position of the ADA / USD should inform.
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