The ADA coin has been in a bearish mood for more than two months now. In this fall, the price has dropped to the 0.786 FIB level and has lost half of its value. However, today it was up by 10% where this green candle has engulfed the last six days of trading activity. Watch out for these important technical levels.
Key technical points:
The ADA daily RSI line has recovered from the oversold territory
The 20-day EMA provides strong resistance to ADA price
The intraday trading volume in the ADA coin is $29.56 Million, indicating a 68.7% hike.
Source- ADA/USD chart by Tradingview
As mentioned in my previous article on ADA/USD, the correction phase or be more precise, a short-term downtrend in ADA coin plunged to the 0.786 Fibonacci retracement level. For almost a week, the price was trying to sustain above this level, and today it showed a bullish engulfing candle of around 10%, maybe indicating the first sign of bullish reversal.
The crucial EMA levels(20, 50, 100, and 200) indicate
We współpracy z: https://coingape.com/cardano-price-analysis-ada-coin-up-by-10-today-has-the-recovery-phase-started/
