ADA managed to stop the downtrend, and the bulls pushed the price higher on the day that the protocol will see its Vasil upgrade go live. Key Support levels: %excerpt%.43, %excerpt%.38 Key Resistance levels: %excerpt%.50, %excerpt%.56 Buyers came in strong today and managed to turn the price action around above the key support at %excerpt%.43. If this bullish momentum continues, then ADA could increase towards %excerpt%.5, which is the current resistance. This would also be a sign that the downtrend is reversing. Chart by TradingViewTechnical Indicators Trading Volume: Volume picked up yesterday and closed in red, but today, this was quickly reversed, and buyers have the upper hand. RSI: The daily RSI is approaching 50 points. If buyers manage to push it above, then the momentum may reverse in their favor.
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Duo Nine considers the following as important: ADABTC, ADAUSD, Cardano (ADA) Price, Price Analysis
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ADA managed to stop the downtrend, and the bulls pushed the price higher on the day that the protocol will see its Vasil upgrade go live.
Key Support levels: $0.43, $0.38
Key Resistance levels: $0.50, $0.56
Buyers came in strong today and managed to turn the price action around above the key support at $0.43. If this bullish momentum continues, then ADA could increase towards $0.5, which is the current resistance. This would also be a sign that the downtrend is reversing.
Technical Indicators
Trading Volume: Volume picked up yesterday and closed in red, but today, this was quickly reversed, and buyers have the upper hand.
RSI: The daily RSI is approaching 50 points. If buyers manage to push it above, then the momentum may reverse in their favor.
MACD: The daily MACD remains bearish, but the histogram is making higher lows which is an early sign of a possible reversal in the downtrend.
Bias
The bias for ADA is neutral.
Short-Term Prediction for ADA Price
At this time, ADA has managed to put a stop to the downtrend, and buyers appear eager. This is a good sign, but bulls have to sustain the pressure if they are to be successful in breaking the $0.50 key resistance.