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HomeNewsADA remains in consolidation mode for the time being From Investing.com

ADA remains in consolidation mode for the time being From Investing.com




Investing.com – In a quick move is that yesterday rose to our mid-week chart technical key resistance ($ 2.82). A breakout, which would have resulted in significantly higher prices, did not materialize. The native crypto currency ADA of the Cardano Blockchain is still in consolidation mode, but is much stronger than its counterparts (,, etc.).

All in all, the momentum has decreased noticeably in the context of the overarching uptrend. Looking at the indicators, the price remains vulnerable to a more pronounced phase of weakness.

The daily chart shows the next relevant support areas at $ 2.55 to $ 2.51 and $ 2.32 to $ 2.28. A sustained fall below the last-mentioned zone, especially at the end of the day, would provide initial confirmation that the price correction will continue. Closest holding areas below are at $ 2.20 to $ 2.13 and $ 2.00.

The overall chart image would cloud below the former breakout level at 1.90 / 1.89 dollars.

The next relevant hurdle is currently at $ 2.66. A rise above this would suggest a re-test of key support at $ 2.82. Potential targets for the upside would then be $ 2.98 / $ 3.00 and $ 3.09.

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Note: This article does not constitute investment advice or a solicitation to buy or sell any asset. Nor does it purport to predict the development of the Cardano price. This is only a subsequent comment on the ADA development, the Cardano investors about the latest crypto news and the technical starting position of the should inform.




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Hasan Sheikh
Hasan, who loves technology and games, is studying Computer Engineering at Delhi JNU. He has been writing technology news since 2016.
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