Cardano ADAUSDT 4 Hour chart analysis April 9, 2023

ADAUSDT

On the 4-hour chart, the price has risen above the 20-EMA, which implies that the bulls may be attempting to end the pullback. They will now target the downtrend line, and if they break through it, the pair may rise to the neckline, where the bears are anticipated to put up a strong fight. However, if the price is unable to breach the downtrend line, it may suggest that the bears are dominant at higher levels, and the selling pressure may intensify, leading to a decline to $0.37 and eventually to the 200-SMA.



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