Cardano : Price Analysis, March 12

3

ADA/BTC

Cardano continues to trade in a small range as forecast in the previous analysis. As both the bulls and the bears are in a state of equilibrium, there is no trade setup.

ADA/BTC

One of the parties will exert their dominance within the next few days with a large range move. We should wait for it and then recommend a position.

At the moment, any up move is likely to face resistance at 0.0000246. Above this, the next resistance will be from the downtrend line and the 20-day EMA, which are at about the same level of 0.0000275. Once the ADA/BTCpair breaks out of this, it might start a new trend. Until then, we shall remain on the sidelines.

On the downside, the next support is at 0.00001690.

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