- ADA/USD went up from $0.058 to $0.063 this Friday and is currently priced at $0.62.
- Technical analysis shows that SMA 200 and SMA 50 act as immediate market resistance.
Cardano had an extremely bullish Friday, wherein the price went up from $0.058 to $0.063, charting an 8.62% growth. Looking at the hourly breakdown, we can see that ADA/USD had a heavily bearish start to Friday, as the price plummetted from $0.058 to $0.056 in the first two hours. The bulls then found support and bounced up to $0.62, where it found resistance and dropped down to $0.0605. The bulls then took charge and brought the price up to $0.062.
ADA/USD daily chart
-636997941681411552.png)
The 50-day simple moving average (SMA 50) and SMA 200 curves act as immediate market resistance. The 20-day Bollinger jaw is narrowing, showing decreasing market volatility.
The Elliot oscillator shows nine straight bullish sessions, while the moving average convergence/divergence shows four consecutive bullish sessions, indicating positive market momentum. The relative strength index (RSI) indicator is trending around 44, having bounced up from the oversold zone.
Share
