Cardano ($ADA) contrary to the broader market movement, Cardano slipped into the red territory zone yesterday, but the formation of an ascending triangle on the 4-hour timeframe, signaled a sharp incoming upswing. On the downside, the upswing could be delayed over the next few session as the press time market condition projected some bearish sentiment.
The Awesome Oscillator's red bars fell closer towards the half-line, while the RSI dipped towards the neutral 50 zone. A 20% cut in the 24hour trading volume suggested that $ADA could trade sideways before the breakout takes place. Once the breakout occurs, the bulls could look to target a move above the $1.50 mark.
