Cardano Technical Analysis

21 APRIL 2022 | ZebPay Trade-Desk

The Cardano platform is powered by the ADA coin. Developers position Carnado as the third-generation blockchain. The main goal of the platform is to implement all the best features of Litecoin, Bitcoin, and ETHEREUM into one crypto asset. Coronado’s rank is at 9 and the market capitalization is $32bn.

At the time of writing, ADA was trading at $0.95

Cardano Technical & Price Analysis

ADA was trading in a falling channel, and after taking multiple support at $0.75 it started moving upwards. The asset gave a breakout above the channel and rallied up to $1.245. However, the bulls failed to cross the strong resistance around $1.25 and prices witnessed a minor correction and dropped to $0.874. Currently, ADA is consolidating and trading in a narrow range from $0.9 to $0.98. Breakouts on either side with good volumes will further decide the trend for this asset.

Support 2Support 1AssetResistance 1Resistance 2
$0.75$0.9ADA$0.99$1.25

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