ADA Technical Analysis: Buyers Are Alive And Kicking!

During the last 9 trading weeks on the ADA market, buyers may be able to close the weekly candle above the opening price. At the time of writing, the Cardano weekly candle has absorbed the two previous candles and has every chance of consuming part three. The trading volumes during such a counterattack of buyers is not less than during the fall. However, it is important to note that no more. This means that sellers do not pose special problems for the growth of ADA price. The first real target from which sellers will try to take the initiative from buyers is $0.85. At this point, the ADA price stopped on 7 March and buyers organized a local price rebound by almost 60%. Source: https://www.tradingview.com/x/7rWOlJ2C/ The main critical point of sellers, above which their trend will become irrelevant – is the mark of $1.2. This mark kept the trend of buyers from 21 February to 22 January. For almost a year, buyers repulsed all the attacks of sellers, and then surrendered. From this mark in all probability it is necessary to expect at least a local rebound of the price downwards. Therefore, closing your ADA investment at $1.2 is a smart decision, especially if we take into account that from this mark sellers can update the local low from 9 May. The final target of the sellers in this case is around $0.36. ADA Technical Analysis The Daily Timeframe Source: https://www.tradingview.com/x/QaIyhUb5/ Analyzing the movement of the ADA pr...