ADA – Rangebound

ADA Cardano is bouncing again after a breakout from the lower range zone 1. This could be a reversal however as the price retested the bottom of the lower range zone yesterday at $2.010, the support level we marked in our last analysis.

The broad uptrend is keeps price supported and the breakout from this zone could trigger the price to the area where EMA 100 and EMA are converging. Moreover, after a slight reversal, the trend might continue to the range zone 2 at $2.20, the price level of November 10, 2021.