Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion The 12-hour bearish order block meant sellers can look for trade opportunities soon However, volatility could see Cardano rise higher in search of liquidity before a reversal Cardano whales have increased their holdings in […]
traded between the $16.6k mark and $16.9k mark over the past ten days. The rest of the crypto market has also ground to a halt, and trading volumes were extremely low. Traders can wait for volume and volatility to arrive before looking for trades.Source: ADA/USDT on TradingView
However, the $0.26-$0.269 represented a bearish order block on the 12-hour chart. There was also a fair value gap between $0.27 and $0.28. Therefore, even if ADA climbs past $0.27, it might still face a reversal to the downside. The Relative Strength Index was able to flip the neutral 50 line to support, but the On-Balance Volume remained flat. Therefore, any move upward likely did not have demand behind it.
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