3 min readCARDONA (ADA/USD):
Cardona has experienced a remarkable surge in recent weeks, achieving an impressive 36% week-over-week gain. Currently, it is trading just below $0.80.
A closer analysis of the technicals reveals that we have broken above an internal descending trend line but are now trading within a key resistance zone near $0.80. The RSI indicator currently suggests that the price might be temporarily “overbought.” I will be closely monitoring these indicators to gauge how the market responds within this area of interest.
Author
Risk Disclaimer Disclaimer: The information provided does not constitute, in any way, a solicitation or inducement to buy or sell any of our products.
Any material presented under this section of our website is not intended and should not be considered investment research or investment advice. Any Comments and analysis reflect the views of different external and internal analysts at any given time and are subject to change at any time. The recipient acknowledges that he/she is solely responsible for any trading decisions taken.
Risk warning: Our products are complex financial instruments which come with a high risk of losing money rapidly due to leverage. These products are not suitable for all investors. You should consider whether you understand how leveraged products work and whether you can afford to take the inherently high risk of losing your money. If you do not understand the risks involved, or if you have any questions regarding our products, you should seek independent financial and/or legal advice if necessary. Past performance of a financial product does not prejudge in any way their future performance.
