Cardano Price Analysis: ADA Soars 10% Daily, $0.75 Inbound?
Ever since ADA found support at $0.55, the charts have been looking bullish. If buyers persist, then ADA is likely to move above the key resistance.
Key Support levels: $0.50, $0.55
Key Resistance levels: $0.64, $0.75
Despite a turbulent market that gives conflicting signals, ADA has been a consistent winner in the past few days. The price is now just under the key resistance at $0.64. If this momentum continues, buyers could take the cryptocurrency above and beyond. The key support is found at $0.55, and it held very well to date.
Technical Indicators
Trading Volume: The buying volume has been very well sustained and has taken ADA back below the key resistance.
RSI: The daily RSI is also rallying and moving fast towards 60 points. This puts the RSI on the bullish side.
MACD: The daily MACD is bullish, and the histogram is making higher highs again. This is a great change of pace after the price consolidated earlier this week.
Bias
The bias for ADA is currently bullish, and a break of the key resistance would reaffirm it.
Short-Term Prediction for ADA Price
As long as the buying volume remains steady, ADA is likely to break above $0.64. If successful, then it has a clear path towards $0.75 next.
