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The market data are taken from HitBTC exchange.

Cardano place seven of the biggest Cryptocurrencies in terms of market capitalization. He has, in the last days of a brilliant Comeback, as he was listed on the on the Huobi exchange and to trade the pairs were introduced to the Bancing-exchange.

The Trader also seem to be on the fundamental Front in the bull sentiment, because many believe that he can be an important competitor to Ethereum.

How about the it future?

weekly chart

The ADA/BTC Pair has a short but volatile history. From the lows of 0,00000254 on 2. November of last year, he rose at 4. January of this year, at a day’s high of 0,00009180. That’s an impressive yield of 3514 percent within about two months.

Then there was a downward trend, due to the he on 18. March fell by 81 per cent from the High on 0,00001673.

What investors can from here on out expect?

In the last five weeks, the digital currency is in a Pullback, which has almost reached the 23.6% Retracement of the decline from 0,00009180 on 0,00001673.

After such a strong decline is a „V“-shaped recovery is unlikely, as traders who bought at higher Levels, and the Portfolio suffered a huge loss, would come off as soon as the purchase level is reached again.

In the same way short-term traders who bought in near the lows are book profits, if there is a rally.

The important levels to watch are the 38.2% Fibonacci Retracement Level of 0,00004541 and the 50% Retracement Level of 0,00005427.

The beginning of a new upward trend can only be to the next case in the direction of the recent lows is confirmed. Also a trading within a range is possible, which would be a positive sign. The longer it takes to form a base, the longer the resulting rally will last.

let’s See how we the above Levels can use to trade.

daily chart

The daily chart shows that the current Pullback Levels exactly at 23.6% Retracement stop. In the last seven days, Cardano has consolidated close to the Overhead Resistance, without a lot of space to give away. This is a positive sign. The bull transition of the slide like averages.

We will probably get one within the next few days a further attempt to break out of Overhead Resistance to see through the bull. If you succeed, there could be a rally in the direction of 0,00004541.

If the escape attempt fails, will resolve most of the traders who have bought at low Levels, their positions, what would cause a slight fall.

The 20-day EMA is the first Support. If this is broken, it is a case, in the direction of the 50-day SMA.

so What should I do?

How to proceed with the ADA/BTC Pair?

long-term traders should collect the items, when it comes SMA to easy to Plunge in the direction of the 50-day and the Stop-Loss Limit in 0,00001600 leave. If the courses under the lows of 0,00001673 of 18. March keep, the objectives including at 0,00000965 and 0,00000560. The aim of this trade is 0,000054 and higher.

short-term traders who bought at lower Levels, can Loss their positions with a Stop-Limit at 0,00003 more.

New positions for short-term traders should only come into question when it comes to an outbreak, and the conclusion (UTC) on 0,000035. The Stop-Loss Limit should be kept close to this line. The first goal is 0,000045.

The market data are taken from HitBTC exchange. the Charts for the analysis come from trading view.