Cardano, LUNA, SAND Price Analysis: 14 February
Cardano broke down from its ascending channel while the buyers stepped in at the $1.02-mark support. Now, the bulls seem to be eyeing a reversal of the 20 EMA. Also, SAND lost its trendline support while marking an oversold 4-hour RSI.
On the other hand, Terra entered a low volatility phase near its Point of Control.
Source: TradingView, ADA/USDT
After touching its nine-month low on 22 January, ADA saw a 37.2% recovery as it breached the $1.2-mark to test the upper trendline. Since then, the altcoin has lost over 18% of its value in the last six days. Consequently, breaking down from the up-channel (white).
It is crucial to note that the 20 EMA (cyan) plunged below the 50 EMA (red)on 12 February, affirming a bearish edge. Now, the immediate resistance stood near the 20 EMA at $1.07, followed by the $1.1-level.
At press time, ADA was trading at $1.033. Over the past four days, it saw a substantial decrease in buying pressure. The RSI drifted from the 58-region oversold territory. Any bullish resurgence would propel a test of the 40-mark resistance. Although MACD depicted a bearish preference, its lines were on the verge of a bullish crossover. They still needed to cross the equilibrium to confirm a possible recovery.
Source: TradingView, LUNA/USDT
The $86.49-level resistance stood solid as the alt saw an up-channel (yellow) breakdown. Post that, LUNA saw a 50.11% fall (from 17 January) toward its two-month low on 31 January.
Post that, the alt noted 37.4% gains in the next week as it broke out of the down-channel (yellow) only to find resistance at the 38.2% Fibonacci level. As a result, it pulled back and found support at its Point of Control (red) that coincided with the trendline support (cyan). Now, the testing point for the
Read more on ambcrypto.com
