As trading momentum and volume continue to prove elusive, ADA planted a leg down to $0.900 on Monday amid a reversal from the multi-month channel top. However, the cryptocurrency appears to have regained a grip on price action, as a move below $0.900 seems unlikely in the near term.
That said, ADA needs a push above the $1.000 barrier to further stall the bearish momentum. Regardless, a bullish sentiment will only return to this crypto after it reclaims the $1.050 line, where my 100 EMA resides.
With the weekend, which is typically volatile for the cryptocurrency market, at our doorstep, Cardano could encounter a make or break moment, as bulls aim for the $0.700 midpoint while bulls the $1.100 in the near term.
Meanwhile, our resistance levels are $1.000, $1.050, and $1.100, and our support levels are $0.900, $0.800, and $0.700.
Total Market Capitalization: $1.86 trillion
Cardano Market Capitalization: $31.7 billion
Cardano Dominance: 1.7%
Market Rank: #8
That said, ADA needs a push above the $1.000 barrier to further stall the bearish momentum. Regardless, a bullish sentiment will only return to this crypto after it reclaims the $1.050 line, where my 100 EMA resides.
With the weekend, which is typically volatile for the cryptocurrency market, at our doorstep, Cardano could encounter a make or break moment, as bulls aim for the $0.700 midpoint while bulls the $1.100 in the near term.
Meanwhile, our resistance levels are $1.000, $1.050, and $1.100, and our support levels are $0.900, $0.800, and $0.700.
Total Market Capitalization: $1.86 trillion
Cardano Market Capitalization: $31.7 billion
Cardano Dominance: 1.7%
Market Rank: #8
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