With Cardano (ADA) supporting smart contracts on the cardona network in September and starting to work, we were able to observe that the price increased from 1 dollar to 3 dollars, and then there were pullbacks in ADA with the decline of btc.
With the impact of positive news such as the decentralized exchange (DEX) SundaeSwap launching a finance application, there have been positive divergences against BTC in Cardona. So, will these positive reflections affecting the price continue? Let’s examine it technically.
ADA, which has increased by about 30% compared to last week, continues to hold on the support level of $ 1.02 and $ 1.17 this week. If the major support in this region and weekly closings under the trend do not come, the resistance levels of $ 1.75 and $ 2.3 can be followed if the prices are moved up with the strong purchases to be made from this demand region.
When we look at the daily time frame, as we see in the weekly, the band gap of 1.02 dollars and 1.17 dollars, which is seen as a strategic region that has been tested many times in the rising trend, is important.
In addition, there is a pullback after the falling trend from the 3 dollar levels is tried 3 times and rejected from this region. With the breaking of the band gap of $1.7 and $1.95 from the sell-off and persistence above this zone, the $2.6 and $2.8 resistance levels can be targeted in the short term.
To summarize; We can see the continuation of the positive reflections in the price with the effect of the new events and news that will come with the weekly and daily closings over the specified region.