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Cardano (ADA) Technical Analysis

Cardano (ADA) price climbed above $2.18 on Oct. 21 but the bulls failed to push the price above the resistance line of the symmetrical triangle pattern.

Cardano (ADA) price climbed above $2.18 on Oct. 21 but the bulls failed to push the price above the resistance line of the symmetrical triangle pattern. This indicates that the bears are fiercely defending this level. Sellers are currently trying to push the price below the support line of the triangle. If they are successful, it will suggest that the balance between the bulls and bears has been negatively resolved. ADA price could slide to strong support at $1.87 later. A close below this level is likely to cause panic selling. The break and close above the triangle will be the first indication that the bulls are back in the game. ADA could then rally to $2.47 and gain momentum above this resistance.

Cardano (ADA) Technical Chart

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