- ADA price is about to have a crossover with 200-day EMA line
- Yesterday, the coin has maintained a steady price surge for the better part of the day
- Cardano has faced a bit of price pullback today; technicals have started to move towards the bearish phase already
- The coin holds a support level above the 38.20% Fib level; yesterday’s surge took the price up by more than 10%
ADA price was away from volatility till March 1, as it traded in a flattish manner till then. It is yesterday when the coin has shown a noticeable and positive price momentum.
The coin was trading at $0.047 when March started and took a price plunge before closing on March 1. ADA started a strong rebound journey the very next day and till the day ended, it reached as high as $0.049 from $0.045.
The price hike was by 10.53%, however, the price barriers refused the coin to achieve the $0.050 price mark. The downward correction has taken the coin near $0.048 already. Meanwhile, Bollinger bands are set to see a volatile spell for the coin soon.
In the next chart, we can see how the coin is about to have a crossover with the 200-day EMA line. If the price path slips below the EMA line, a bearish price move can be anticipated.
Also, RSI is at 39, showing no extremities and the MACD indicator appears in the bearish zone with its signal line on the upside.