The Bearish Trend of Cardano$ADA May Come to an End
Technical indicators for Cardano have recently pointed to a possible reversal, especially after the formation of a 'death cross'. Sixteen days ago, the 200-day exponential moving average (EMA) crossed below the 50-day EMA, signaling a bearish trend. This phenomenon is often considered a negative signal in technical analysis.
However, a recent recovery above $0.70 and sustained bullish momentum could lead to an increase in ADA above $0.80. If this occurs by the end of April, it will become the shortest 'death cross' in Cardano's history.
The Relative Strength Index (RSI) is above the neutral line at 50.0, at a 7-week high. This is a clear signal of increasing investor confidence and rising buying pressure.
This factor could support the altcoin's price growth in the near future.
