Cardano saw a great rally against USD and BTC earlier this year. In recent months, it has retraced some as Bitcoin has also been testing the 20 week moving average for the last 6 weeks. We know that given Bitcoin's proximity to the 20 week MA, that altcoins are less likely to have the confidence they need to continue higher in the short term. At present time, the price of ADA is actually being squeezed between the 50 day and 200 day moving averages with respect to its valuation against USD and BTC. We take a look closer into some of the recent trends, and talk about possible scenarios in the coming months for the price of Cardano. TA Video by Benjamin Cowen.
