ADA Technical Analysis: Near Crucial Resistance level at $3.01

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We are here to yet again enlighten you about news and predictions from the Crypto community!! 

And today we present to you a technical analysis video on Cardano (ADA) Token!

ADA is designed to ensure that owners of this token can participate in the operation of the network. 

But before we get into it, we want to thank you for the support you guys show towards the channel!!

In the last 24 hours, ADA has traded between $2.91-$3.01.

At the time of press, ADA is trading at $2.97. The price is down by approximately 1.38% from the opening price and forming a bearish candle for the day.

It is near its crucial resistance level that is $3.01.

A confirmatory breakout candle above this level will unleash ADA to form new all-time highs.

MACD and signal lines are above the zero range, thus suggesting a buy signal. 

Thus, we can expect a price to fall for the day.

ADA is above the Fibonacci pivot support level of $2.51. 

Expected retest at this pivot level, however, if the selling pressure remains unchanged, the price might break the support to fall more.

The price has been tested and fallen from the FIB retracement level of $3.16. If the price rises above this, it implies that the price uptrend is strong. 

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