The price of ADA continues to be supported by the announcement of Cardano`s EVM company Milkomeda over the forthcoming network upgrade, which will allow all users of Cardano network to access smart contracts on Ethereum VM through ADA wallets. The resistance line at $0.40 remains supported, but the coin did not manage to break this level for the last two weeks. The price of ADA was moving in a short range during the previous week, between levels of $0.37 and $0.40.
RSI is moving above level of 50 during the last two weeks, with its highest level at 61. At this moment, the market is still not ready to clearly choose the trading side. Moving average of 50 days started to diverge modestly from the MA200 counterpart, at least providing some indication that the actual Golden cross did occur some time ago.
Daily trading volumes are generally decreased on the crypto market due to market exhaustion on one side and Easter holiday, on the other. During the week ahead, it should not be expected to see some significant moves in the price of ADA. It might continue its current slow motion between $0.40 resistance and level of $0.37, with lower probability for testing of $0.35 support line.
RSI is moving above level of 50 during the last two weeks, with its highest level at 61. At this moment, the market is still not ready to clearly choose the trading side. Moving average of 50 days started to diverge modestly from the MA200 counterpart, at least providing some indication that the actual Golden cross did occur some time ago.
Daily trading volumes are generally decreased on the crypto market due to market exhaustion on one side and Easter holiday, on the other. During the week ahead, it should not be expected to see some significant moves in the price of ADA. It might continue its current slow motion between $0.40 resistance and level of $0.37, with lower probability for testing of $0.35 support line.
