Cardano's $0.20 Stalemate Set to Crack

Cardano (ADA) has been coiled in a tight range at $0.20, and technical indicators suggest that something is about to happen.

The asset's short-term moving averages are bullish, with price sitting above its 7-, 20-, and 50-day simple moving averages stacked in ascending order at $0.20, $0.18, and $0.17.

However, the 200-day SMA sits at $0.23, which represents a wall for near-term strength.

The Bollinger Bands are telegraphing tension, with price pressing against near-term resistance at $0.21.