Cardano (ADA) support intersects price resistance at new moon

Wednesday, August 19, 2020, at 02:41 UTC marks the next New Moon which are considered bullish. Cardano (ADA) has been in steady consolidation since the recent big BTC drop, tracing a solid Gann Fan support line as it periodically retests $0.14. On Wednesday, Gann support line will intersect the $0.14 price resistance line at the bearish New Moon. The New Moon event will also be preceded by positive news about the release of staking rewards the day prior.

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Correction: Bullish New Moon.