ADA/USD – Bulls Fade At $1.20

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    The RSI is straddling the midline as indecision looms within the market. Against Bitcoin, ADA has formed somewhat of a symmetrical triangle pattern during the second half of March.

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    The cryptocurrency rebounded from SAT last week but was unable to close a daily candle above SAT, where lies the upper boundary of this triangle. It has since dropped lower slightly as the bulls attempt to defend SAT. They managed to defend this support loom btc tradingview week, and the lower boundary of the triangle also lies here.

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    This is followed by SAT. On the other side, the first resistance lies at the upper boundary of the triangle. The RSI has dipped beneath the midline here, indicating the bears are attempting to take control of the market momentum.

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    If it continues to drop, the bearish momentum is likely to force ADA beneath the current triangle. Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments.

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    You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.

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