CARDANO – ALTCOIN CHART ANALYSIS

Cardano (ADA) was able to break the preliminary downtrend, but after we reached the resistance area at around USD 0.54, it had to pull back significantly.

Right now we're trading at around $0.49. On the 4H chart at the moment we have been able to find support at the monthly support P and 200-EMA. The RSI has corrected significantly lower.

We could still correct up to around USD 0.47. There is the 200 SMA (last 200 moving averages/purple) as the last support. Then the attempt to start an uptrend would have failed.

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