Analysis of Cardano (ADA) – 30/01

■ Current Situation:

The price is facing significant selling pressure as is the case with most cryptocurrencies. Currently, the price is moving above the support range at 0.3034 – 0.3225. If the price manages to hold above this, it will attempt to test the current resistance area at 0.3330 – 0.3398. In the event of a breakout and holding above it, the price may continue to rise towards the next resistance at 0.3571 – 0.3631. However, if the current support at 0.3034 – 0.3150 is broken, it is likely that the decline will continue towards the next support at 0.2839 – 0.2894.

■ Technical Levels:

Resistance:

Current Resistance: 0.3330 – 0.3398 (+3% to +10%)

Next Resistance: 0.3571 – 0.3631 (+15% to +18%)

Support:

First Support: 0.3034 – 0.3150 (−2% to −5%)

Next Support: 0.2839 – 0.2894 (−8% to −10%)