Cardano, Chainlink & Fantom — Asian Wrap March 18
Cardano price range tightens, ADA reveals plans to revisit $1
Cardano price has been stuck in a tight range for about two weeks with minor daily returns. This sideways movement is reminiscent of the one that happened at the end of January and indicates that a break up looks likely.
Cardano price awaits an explosion of volatility
Cardano’s price showed a lack of volatility as it traded sideways from January 22 to February 3. This consolidation led to an upside break that saw ADA rebound 24% and hit a high of $1.26.
Chainlink establishes support that will launch LINK to $25
Chainlink’s price has seen significant fluctuations over the past two trading days. The bulls were unable to repeat Wednesday’s performance but, at the same time, minimized LINK’s Thursday losses. More importantly, from an Ichimoku perspective, the bulls were able to hold the daily close above the Tenkan-Sen and Kijun-Sen, creating a fantastic base for higher moves.
Fantom Price Says “Give It Time” as Bears Break Above All-Time Support Level
Fantom price has the potential for a further 30% decline in a previous resistance zone. Last week’s 2-week candle has already broken through the previous support level on the Relative Strength Index. Investors could see an additional bottom printed in the coming weeks if the bears keep the price action within the current support zone.
Fantom price should continue to print price action within the 14% range it has been confined to this week. Crypto traders are likely to watch other assets as there is not much evidence of near-term bullish strength on the chart.