Cardano Testing The Resistance:
Price Analysis
Global xchange. In the last 24 hours,, Cordano price has risen 9.9%. Price is moving above the trend line. Right now Cardano is moving near the resistance of $.0882. The trend seems partially bullish. Chances are we can see a correction in the trend. If the bulls remain in the market, the price level of $.1 can be seen. Trading volume is low (below average) from last few days.
RSI is rising slowly. RSI is at value 58.75. Stochastic is near 50. It is trying to go toward the overbought zone. Price is in the uptrend but losing momentum. Ichimoku cloud is showing a bullish trend. Global exchange. Conversion Line is moving flat and above the baseline.
Strategy
Global xchange. Right now price is near the resistance of $.088. If the price crosses the resistance, the price level of $.1 can be seen. On the other hand, if the prices slide downward with the heavy volume price level of $.05 can be seen. Prices are already above 50 days MA which is a good sign to continue in the upward direction.
To take position wait for the prices to cross the resistance. Set the target for $.1. Globalxchange. Otherwise, look for shorting position to the target of $.059.
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