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  • Unlike most of the crypto sphere ADA/USD is trading 3.54% higher today.
  • There has been a massive price consolidation and it looks like we might break out.

 

ADA/USD  has been consolidating between 0.035000 and 0.039780 for some time now.

Just this afternoon the price looks to be hitting the topside of the consolidation area.

Above this level is a trendline that could act as a resistance level but it remains to be seen how powerful the move may be.

The volume profile on the left-hand side was building a massive distribution level and if price breaks out the low of the next distribution is near 0.044000.

Cardano analysis