Cardano (ADA) was hit heavily by the bearish market during the past few days, after trying to break up from the last high at $0.38.
Though the bearish trend seems still underway, it seems ADA has found a good support at the the 0.382 Fibonacci level, priced about $0.23.
Also in the 4h chart here there`s a bullish divergence in the RSI and MACD indicators, which can confirm the coming uptrend.
Of course this analysis can be invalidated if BTC falls below the 8k levels. In this case, a further dip to the 0.236 Fib levels is expected (which also was tested and rebounced on last April 14).
Though the bearish trend seems still underway, it seems ADA has found a good support at the the 0.382 Fibonacci level, priced about $0.23.
Also in the 4h chart here there`s a bullish divergence in the RSI and MACD indicators, which can confirm the coming uptrend.
Of course this analysis can be invalidated if BTC falls below the 8k levels. In this case, a further dip to the 0.236 Fib levels is expected (which also was tested and rebounced on last April 14).