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Cryptoknowmics 2022-06-25 04:35:17

Cardano Technical Analysis: ADA May Retest June 2022 Highs

Cardano buyers are firm when writing, rejecting bear attempts. With primary support at $0.45, ADA prices may rally to retest June 2022 highs in short to medium term. Past Performance of Cardano Cardano prices are printing higher at spot rates, as per the performance in the daily chart. ADA is up three percent on the last trading day, printing this week’s highs and unwinding recent losses. From the current arrangement, ADA may likely extend gains and breach the 20-day moving average in a refreshing breakout. This formation would likely form the basis for the next leg up. Cardano Technical Analysis Technically, ADA coin prices have been resilient. Despite sharp losses from late last week, Cardano bulls soaked in selling pressure, retaining prices above $0.45. The multi-week support line is critical and anchors the current rally. In the short term, traders may find entries on every attempt to push prices back to $0.45, with targets at $0.55—the June 15 highs. If buyers build on those gains, ADA may expand to $0.66 and retest June 2022 highs. What to Expect from ADA? Cardano is steady at spot rates. Nonetheless, ADA token prices are still bearish from an effort versus results perspective. A clear buy trend would be defined once there is a refreshing rally above $0.66 and prices hold steady above the critical support at $0.45.The post Cardano Technical Analysis: ADA May Retest June 2022 Highs appeared first on Cryptoknowmics-Crypto News and Media Platform.

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