Add as a preferred source on GoogleCardano Trades Near $0.20 After Three Bearish Daily Closes
A Zen Trades chart marks $0.1894 as the next horizontal support and places the 200-day exponential moving average at $0.2434.
At press time, Cardano (ADA) traded at $0.2065, up 1.57% over 24 hours, leaving the token just above $0.20 after three consecutive bearish daily closes.
A chart by trader and analyst Zen Trades marks $0.20 as immediate support, with horizontal support at $0.1894 below it and another level at $0.1533. ADA has fallen below a rising trendline near $0.2398, the chart shows.
The chart places ADA below its 50-day exponential moving average (EMA) at $0.2240 and its 200-day EMA at $0.2434. The relative strength index (RSI) is near 35, above the conventional oversold threshold of 30, while the moving average convergence-divergence (MACD) indicator remains below zero. The chart also marks $0.2240, $0.2398 and $0.2434 as levels above the current price.
An earlier report on Cardano near key support showed ADA near $0.2521, with its 50-day and 200-day EMAs at $0.2282 and $0.2424. The chart discussed here places those averages at $0.2240 and $0.2434.
Enna Lee
ReporterEnna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to info@tokenpost.com.