Cardano Technical Analysis: ADA Sandwiched Between Two Key Levels Over Last Three Days
Daily Cardano ADA Price Analysis
- Cardano price MACD shows increased bearish momentum.
- The 20-day and 50-day SMAs sandwich the Cardano price.
Between April 16 and April 19, the Cardano price crashed from $1.48 to $1.20, losing around $0.30 in its overall valuation. In the process, ADA bears completely negated the gains that the buyers made between April 10 and April 15.
Cardano Price Trends Between 20-day and 50-day SMAs Over Last Three Days
Looking at the Cardano price daily chart, ADA has been hovering between the 20-day SMA ($1.27) and 50-day SMA ($1.20) over the last three days. The MACD still shows increasing bearish momentum and the parabolic SAR has flipped from positive to negative.
Image: ADA/USD daily
Looking at the IOMAP, the strong support lies at the 50-day SMA ($1.20), wherein 144,000 addresses had purchased around 2.5 billion ADA tokens.
Cardano Price Is Expected To Reach These Levels
The buyers will need to push Cardano price over the 20-day SMA to reach the $1.35 resistance barrier.