This website uses cookies to ensure you get the best experience on our website
CRYPTOALTUM IS EVOLVING! EXCITING CHANGES COMING SOON 

Technical Analysis for ADAUSD for 20th January 2022

Cardano Recoils, but ADA Bulls may Drive Prices to $1.90



Cardano is entering the Basho optimization phase. Already, the number of on-chain transactions surpasses Ethereum's.


Past Performance of ADA

ADAUSDT prices are within a possible double bottom formation, finding a ceiling at $1.50—a psychological resistance line. As prices recoil, buyers appear to be in charge provided prices hold above $1.20.


Cardano Technical Analysis

There are hints of recovery as per the formation in the daily chart. While ADA bulls are confident, citing fundamental factors, the pullback from $1.50 is a concern. Although aggressive ADA bulls may load the dips, better entries exist above $1.50. A break above this mark would confirm buyers of January 11, a base for a possible rally towards October 2021 lows of $1.90.


What to Expect of ADA

Cardano's ongoing development and projects readying to launch on its rails would most likely support ADA. Even with prices recoiling from $1.50, bulls have the upper hand, increasing the probability of ADA bottoming up from $1.20.


Resistance level to watch: $1.50

Support level to watch: $1.20


Disclaimer: Opinions expressed are not investment advice. Do your research.

For more interesting tips and facts visit our Education Centre.


Have Questions? 

We're available 24/7 to help you. You can email us, or send us a message on WhatsApp, Telegram or Messenger!

Risk Disclosure: Trading cryptocurrencies or any other financial instrument involves a significant level of risk and may result in a total loss of your investment. You should consider carefully whether investing in Bitcoin or any other instrument offered by CryptoAltum is appropriate to your financial situation. CryptoAltum only accepts deposits in Cryptocurrencies. By trading with CryptoAltum you acknowledge your understanding of this risk disclosure and your agreement with the Terms and Conditions.

This website is not directed at any jurisdiction and is not intended for any use that would be contrary to local law or regulation.

CryptoAltum does not accept any clients under the age of 18. 
  • Copyright Techcraft Ltd (CryptoAltum) 2020