Cardano: Price Analysis, April 16



Our recommended long position on Cardano is moving towards its first target objective of 0.0000323, where partial profits can be booked. The remaining positions can be held with a trailing stop loss, for a higher target of 0.000035.


The successful retest of the breakout levels at 0.00002460 on April 14 and the subsequent bounce is a positive sign. The 20-day EMA and the 50-day SMA have also completed a bullish crossover.

Therefore, we suggest trailing the stops on the ADA/BTC pair to 0.000023 from 0.000021.

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