Cardano [ADA] retests $0.35 support area, but indicators favor bears

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 on the daily chart remained bullish. The shift in momentum indicators showed weakness from buyers. Cardano [ADA] showed some bullish strength on the charts in mid-February. The retest of the $0.345 […]

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.The shift in momentum indicators showed weakness from buyers.

The Awesome Oscillator formed a bearish crossover beneath the zero line, indicating strong bearish momentum. However, the 50 and 100-period moving averages showed the trend remained bullish. From the perspective of price action, ADA teetered on the verge of forming a lower low.

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