Cardano rejected at $0.4200 – ADA bulls can seek re-entry at this point

Cardano [ADA] hit an obstacle at $0.4200 and attracted sellers. Buyers can bid at lower levels if the pullback extends.

ADA could sink lower if BTC’s bullish sentiment is dented slightly after the FOMC announcement. On the contrary, ADA could surge if BTC reclaims the $30k zone after the meeting.On 14 April, ADA broke above the key February bearish order block of $0.4200 but faced rejection at the confluence area of $0.4614. The upswing saw ADA gain 9% over the Q1 2023 peak value.

As such, ADA could retest the range support and April demand zone of $0.3700 – $0.3800 . The retest could offer new buying opportunities, especially if ADA rallies back to $.4200 or above. However, the FVG zone of $0.4251 – $0.4333 could also slow any upswing beyond $0.4200.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

CryptoAmb /  🏆 22. in CA

Nigeria Latest News, Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Cardano [ADA] ready for a blast off past $0.42, but only if…The daily timeframe showed the bearish order block at $0.4 was flipped to a bullish breaker block after the breakout past $0.42, and the H4 charts also suggested gains were likely.
Read more »

Cardano: Traders choose sides but could ADA be ready for a bull run?As the fourth month closes, ADA continues to face heavy resistance from bears. But will the token overcome the pressure?
Read more »

Cardano releases a major update on Voltaire era, will ADA make the most of it?Cardano published its weekly development report, providing updates on the progress made on CIP-1694 and the Conway ledger era development.
Read more »

Shiba Inu [SHIB] bulls fight to defend support zone, could force a 14% bounceShiba Inu approached a two-month support zone and bulls are likely to push back against the sellers, but can SHIB see another bounce toward the short-term range highs?
Read more »

St. Louis Blues sign defenseman Leo Loof to entry-level contractThe Blues selected Loof in the third round of the 2020 NHL Draft.
Read more »

Ethereum [ETH] could stumble near $2000 despite bullish momentum, here’s whyETH bulls managed to slink into the $1900 zone, but they may not be so lucky when trying to cross the coveted $200 milestone.
Read more »