On the intraday chart, Cardano is experiencing intraday volatility on the daily chart against the American Dollar after gaining momentum for a brief period. ADA coin was maintaining a winning streak until the price dipped below $0.0548 and lost the steady support from the daily moving averages. After hitting the daily support briefly, Cardano price retreated to $0.050 and retained 200-day MA support. While it is yet to regain 50-day MA support as it needs a persistent trade above $0.050 trading area.
The technical indicators also confirm the glimpse of volatility as the MACD line is slightly crossing above the signal line after a bearish pull below $0.050. The RSI of ADA coin is also rebounding at 43.37 after sliding below 30. The hourly resistance lies at $0.050 for a notable bullish crossover, and the daily support to watch out for lies at $0.0470.
