ADA Oversold but eyeing $0.60
Cardano lost market sentiment in SEO search results to other trendy coins like doge and shiba.
However, technically speaking from the charts, ADA has broken a nice resistance line on the daily.
It is eyeing the $0.63 zone on the LOG chart according to the FIB levels.
This is a heavy resistance zone, and I don't expect the price to stay here long.
For short term traders, RSI on the weekly and RSI with a 14 day average (in red) are both +70 and signifying a decline in price shortly. Indicator wise its slightly bearish, and pattern wise it's neutral-to-bullish.
I would suggest waiting for a nice clear reversal pattern on the WEEKLY chart before buying in
LIKELY SHORT TERM TARGET: $0.54
LIKELY LONG TERM TARGET: $0.64 (by long I mean a few months max)
However, technically speaking from the charts, ADA has broken a nice resistance line on the daily.
It is eyeing the $0.63 zone on the LOG chart according to the FIB levels.
This is a heavy resistance zone, and I don't expect the price to stay here long.
For short term traders, RSI on the weekly and RSI with a 14 day average (in red) are both +70 and signifying a decline in price shortly. Indicator wise its slightly bearish, and pattern wise it's neutral-to-bullish.
I would suggest waiting for a nice clear reversal pattern on the WEEKLY chart before buying in
LIKELY SHORT TERM TARGET: $0.54
LIKELY LONG TERM TARGET: $0.64 (by long I mean a few months max)
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