CARDANO – ALTCOIN CHART ANALYSIS

Cardano (ADA) benefited greatly from yesterday's volatility. Nevertheless, we are still in a clear downtrend, which has not yet been broken.

Right now we're trading around $0.46 with two resistances above us. On the one hand the downtrend line is right here, on the other hand the 200 SMA (last 200 moving averages/purple) on the 4H chart.

Although we have formed an intact uptrend, this is accompanied by falling volume, which is why it is very likely that this will be broken soon and we have to expect lower prices again.

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