Cardano ADA price analysis 4/7/23

ADAUSDT

The inverse head-and-shoulders pattern of Cardano's ADA was not completed as the bears prevented the price from breaking above the neckline. The 20-day EMA ($0.37) is a critical support level for the bulls, and if they successfully defend it, they may try to overcome the neckline resistance again. In case the price falls below the 20-day EMA, it could indicate profit-booking by short-term bulls, and the pair may drop to the 200-day SMA ($0.35).

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