Cardano, Monero, VeChain Price Analysis: 17 November – AMBCrypto EnglishNovember 17, 2020
Bitcoin touched a high of $17,081 at press time and large-cap altcoins performed remarkably well in recent days as well. Cardano and Monero broke strongly upward out of a downtrend, while Vechain pulled off the same feat.
Cardano surged off the $0.1 support and broke past the descending channel’s upper boundary. The Stochastic was in the overbought zone but that does not indicate an immediate pullback for ADA.
It was more likely that ADA would test, and possibly even flip, the level of resistance at $0.113 in the next day or two. Bitcoin could also influence Cardano’s price movement, as a heavy BTC correction could see metaphorical blood on the streets.
The Awesome Oscillator moved into bullish territory and signaled further gains to be made. The trade volume upon breakout has also been far above-average, reinforcing a bullish short-term outlook.
Monero closed outside a descending channel