The cryptocurrency market is on sale at the moment and Cardano (ADA) is no exception. Price has taken a plunge into a key demand zone around the $1.20 – $1.00 price zone. At this price ADA is certainly deemed cheap, and these relatively low prices won’t last for long.

Technically speaking The RSI is showing bullish divergence and over extended levels and price is below the 50-200 day moving averages (price is cheap compared to the last 50-200n days).

Upside target: $2.9

Violated below: $0.91

Entry Price: 1.369

ADA/USD 1D Chart, 6 December 2021

Published by Tom Stewart

Head of data analytics at TradeProofer. Analyst at Opes Trading Group. FX enthusiast.

%d bloggers like this: