Cardano Longs look juicy!

13 ביולי 2023

ADAUSDT

Cardano displayed a rise above the 20-day EMA ($0.29) on July 11, indicating that the bulls are stepping in at lower levels.

With the 20-day EMA remaining flat and the RSI near the midpoint, there appears to be a balance between supply and demand. If the bulls can push the price above the 50-day SMA ($0.31), the advantage may shift in their favor, potentially initiating a rally towards $0.38.

Alternatively, if the price turns down from the overhead resistance, it suggests that the bears are still putting up a fight. In such a scenario, the ADA/USDT pair may enter a phase of oscillation between the 50-day SMA and the uptrend line. A break below the uptrend line would give the bears an edge in the short term.