Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion. The market structure was bearish. The descent into a strong bullish order block laid a clear invalidation level for would-be buyers. Last Sunday (19 February), Cardano was trading at $0.411. In the past week, […]
Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.The descent into a strong bullish order block laid a clear invalidation level for would-be buyers.was trading at $0.411. In the past week, the price has fallen by 12.2% to trade at $0.361 at the time of writing.headed lower on the charts, it appeared ADA bulls could face further losses.
At the same time, this was a retest of the H4 bullish order block that ADA made on the rally earlier this month. Highlighted in cyan, the $0.345-$0.36 is a region where bulls can begin to reverse the prices.During the previous rally from this order block, the move upward was rapid and the pullback was slow. The $0.354 level is a support level from mid-January as well.
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Cardano’s development update looks bullish, but can it save ADA from bears?Cardano’s weekly development report revealed bullish stats for long-term holders. On the other hand, ADA had a tough week as its price declined by nearly 10%. Cardano’s [ADA] development activity was on a decline after the Valentine upgrade was pushed earlier this month. However, the situation seems to have changed in the recent past as […]
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