Cardano, Ontology, Synthetix Price Analysis: 16 January

Cardano bounced back from the $0.29-support level and targeted a break above its press time resistance, while the indicators confirmed the possibility of a bullish outcome. ONT also looked bullish and targeted its November 2020 levels as buyers maintained control. Finally, SNX traded close to its record high, but relied on a broader market trend for a definitive move forward.

Cardano [ADA]

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Source: ADA/USD, TradingView

At press time, Cardano was trading at $0.317, down by 3.3% in the last 24 hours. Despite the said fall, however, ADA soon bounced back from $0.29 and eyed the upper ceiling beyond $0.31 as buyers sought control of the price in the last few trading sessions. A break above the immediate resistance could see the price head towards its next test at $0.33 and confirm a bullish scenario for ADA.

The Stochastic RSI moved north from the oversold zone and confirmed the likelihood of a breakout above its immediate resistance.

The On Balance Volume suggested that an uptick in buyers could boost push the price towards the $0.33-mark.


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