Technical analysis by ashbeyinvestments about Symbol ADA: Buy recommendation (3/27/2022)

ADA had a long term downtrend of -70% towards bottoming since Sept 21 2021. The cross of resistance is major on the 2d chart alongside with a breakthrough of a 50d moving average. Last time we seen this ma cross was in August 2021 where it led to a +121% gain on Cardano. This cup and handle forming on a smaller time frame on the 12h chart shows strength and momentum towards a recovery rally. Next targets are shown in the chart.