ADA Aims to Break Out Over Two-Year Long Resistance

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In Brief
  • ADA is facing strong resistance at $0.105.

  • The price is trading inside a short-term ascending wedge.

  • It has generated multiple bearish divergences.

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The Cardano (ADA) price is trading inside an important resistance area which has not been broken since 2018. However, technical indicators are showing weakness, making it likely that the price will not yet break out. The weekly chart shows that ADA is trading inside the $0.105 resistance area, which has been in place since September 2018. While the price reached a wick-high above this
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Valdrin is a cryptocurrency enthusiast and financial trader. After obtaining a masters degree in Financial Markets at the Barcelona Graduate School of Economics he began working at the Ministry of Economic Development in his native country of Kosovo. In 2019, he decided to focus full-time on cryptocurrencies and trading.

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