Cardano ADA could find support at $0.35

ADAUSDT

On April 20, the bears pulled Cardano below the neckline of the inverse H&S pattern, indicating that the bears are making a comeback. If the bears pin the price below the neckline, it will signal that the breakout on April 13 may have been a bull trap, leading to long liquidation, which may extend the decline to the 200-day SMA ($0.35). This level is likely to attract strong buying by the bulls.

The flat 20-day EMA ($0.40) and the RSI near the center do not give a clear advantage to either the bulls or the bears. If the bulls want to come out on top, they will have to kick and sustain the price above the neckline. The ADA/USDT pair may then rise to $0.46.

Let me know what you think!
Follow me for more TA!