As soon as the bears reached the key support, they completely lost control of the price action. Key Support levels: %excerpt%.30 Key Resistance levels: %excerpt%.35, %excerpt%.38 ADA finally found good support at 30 cents from where the bulls managed to turn the momentum in their favor. The price quickly rallied to hit the resistance at 35 cents. This show of strength has turned the chart bullish, which could see ADA move higher later this week. Chart by TradingViewTrading Volume: The explosive buying volume reversed the downtrend abruptly. This is bullish. RSI: The daily RSI touched the mid-level at 50 points. Buyers need to keep the pressure up to protect their most recent gains. MACD: The daily MACD completed a bullish cross yesterday. This is a significant change in the momentum and may
Topics:
Duo Nine considers the following as important: ADABTC, ADAUSD, Cardano (ADA) Price, Price Analysis
This could be interesting, too:
Jordan Lyanchev writes Cardano (ADA) Surpasses Dogecoin After 55% Surge
Jordan Lyanchev writes Trump Confirms Work on Strategic Crypto Reserve: XRP, ADA, SOL Included
Dimitar Dzhondzhorov writes Millions of ADA Sold by Cardano Whales During Market Crash – Will the Decline Continue?
Jordan Lyanchev writes Here’s How Cardano’s 17% Weekly Correction Can Help ADA Hit This Cycle: Analyst
As soon as the bears reached the key support, they completely lost control of the price action.
Key Support levels: $0.30
Key Resistance levels: $0.35, $0.38
ADA finally found good support at 30 cents from where the bulls managed to turn the momentum in their favor. The price quickly rallied to hit the resistance at 35 cents. This show of strength has turned the chart bullish, which could see ADA move higher later this week.
Trading Volume: The explosive buying volume reversed the downtrend abruptly. This is bullish.
RSI: The daily RSI touched the mid-level at 50 points. Buyers need to keep the pressure up to protect their most recent gains.
MACD: The daily MACD completed a bullish cross yesterday. This is a significant change in the momentum and may signal the start of a sustained reversal.
Bias
The bias for ADA is bullish.
Short-Term Prediction for ADA Price
With this latest bounce off support, ADA has turned bullish based on the momentum indicators. If buyers break the resistance at 35 cents, this cryptocurrency could target 38 cents next.