hello, everyone. Before moving on to the article, we ask you to support us and stay on our website, please. Cardano’s fell to the 20-day EMA ($0.66) today, but the bulls purchased this dip, which shows that sentiment remains bullish. The buyers will now try to push the price above the $0.981 resistance.
If they succeed, the Cardano pair may resume its uptrend, with the next target objective at $1.25 and then $1.50.Contrary to this assumption, if the price turns down from the overhead resistance, the pair may consolidate in a large range between $0.981 and $0.687 for a few days.
This positive view will be negated if the bearskin and sustain the price below the 20-day EMA. Such a move will suggest that supply exceeds demand and will signal a possible change in trend. Ripple price turned down from the overhead resistance at $0.65 on Feb.14 and plummeted to the breakout level at $0.50. The retest was successful, as the altcoin bounced back sharply and has formed a long tail on the day’s candlestick.
If the bulls can push the price above $0.65, the Ripple pair could rally to $0.7806.The bears are likely to defend this level aggressively, but if the bulls can propel the price above the resistance, the pair may rally to $1.On the other hand, if the price turns down from $0.65 once again, the pair may fall to $0.
50 and then remain range-bound between these two levels for a few more days.
A break below the 20-day EMA ($0.47) will be the first indication of a deeper correction to $0.3855. The Polkadot pair may now again move up to the resistance line of the ascending channel. If the price breaks above the channel, the polkadot pair could pick up momentum and rally to $41.
However, if the bears defend the resistance line of the channel, the pair may gradually continue to move up. The trend will turn in favour of the bears if they can sink and sustain the price below the support line of the channel. stay to our website and open notifications to learn more about gold, dollar, Euro, commodities, bitcoin, altcoin, cryptocurrencies and other investment tools and this article references an opinion and is for information purposes only.
It is not intended to be investment advice. Every investment and trading move involves risk, you should do your own research while making a decision.