Cardano: Price Analysis, April 16

1

ADA/BTC

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.




ADA/BTC




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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