Feb 16, 2021 05:32 GMTCrypto News
Cardano price seems to be finding a foothold above the $0.87 support level before entering a new uptrend.
A confluence of bullish signals notes that an upswing is inevitable if ADA closes above the $0.92 resistance level.
While a decisive 4-hour candlestick close above this hurdle could trigger a 60% upswing, failure to do so might drag Cardano down by 40% or more.
Cardano price was able to recover after a brutal 21% crash. Now, ADA is trading between two crucial barriers setting up for a volatile move shortly.
Cardano price poised to breakout
Cardano price found support on the 50 four-hour moving average after taking a nosedive to the $0.68 support level on February 15. The so-called “Ethereum killer” continues trading above this lagging indicator, bouncing off it multiple times.
Feb 16, 2021 11:02 GMTCrypto News
Filecoin price shows a decline in bullish momentum as it consolidates inside an ascending parallel channel.
A decisive close below the channel’s lower trendline could trigger a 5-to-15% sell-off.
A bullish scenario will come into play if FIL price manages to close above the channel’s upper trendline.
Filecoin price rose 115% between February 8 and 10. Since then, FIL has been consolidating in an ascending parallel channel. The lack of momentum has caused the price to move sideways and signals a bearish breakdown shortly.
Filecoin price hints at a lower low
A reduction in bullish momentum combined with the recent sell-off has pushed Filecoin price to consolidate near the parallel channel’s lower trendline.