Alright, so it's been some days since last TA of Cardano so time to update it a bit :)
Last time we checked Cardano aka ADA we saw that it exited Ichimoku cloud and entered a bearish territory. Price stayed bellow cloud for a bit and then on Friday we started to see movement into the cloud and finally breaking out of it, that happiness didn't last long as it returned and found a support at the lower line of Ichimoku cloud.
Current situation of a crypto market could also be a factor that is bringing ADA down. You can see in an image above that we still have our main trendline intact and that it's not broken yet. We can also take a look at our fibrenachi levels and see that we first had som consolidation just under 0.38 level, my guess is it was trying to get back up on top again but too many got scared of a big drop and wanted to take out profit so we went further down to just below 0.23 level, where we again consolidated a lit before attempting for a break. We found resistance at 0.5 level witch is also Kinjun line on ichimoku chart.
We have a MACD crossover above level. This is an indication that we could see another downward movement.
RSI is just below 50 level.
MY final conclusion is at we are status QUO, we are not moving upwards or downwards. We are consolidating. My recommendation is to keep an eye out for this one as once it's done we could see some rapid movements.
I have a buy order at 4450 satoshis if it should fall that far down, I also have another buy order at 6600 satoshis. But I'm still keeping an eye out my Ichimoku cloud to see that price is closing above cloud and that we have a clear path ahead :)
Please comment and upvote if you wish to see more TA by me :)