Cardano (ADA) Bounces Off EMA50, Looks Good!

16 Mar 2021

Cardano (ADABTC) is showing a very strong bounce after hitting EMA50, the retrace might be over.

Notice the low volume as the prices drop and the increase in volume as prices bounce back up.

The green volume bars are much bigger, the bulls are still around.

The MACD went below zero and is now starting to curve up.

The RSI already moved back above 50 and is now looking strong.

ADABTC can resume growing here, the next target is marked on the chart.

Note: Moving and close below EMA10 daily would lower the bullish strength we are currently seeing on this chart.

Thanks a lot for reading.

Namaste.