Cardano Price Analysis: Here’s the Next Target for ADA Following 10% Daily Surge
Key Support levels: $1.2, $1.1
Key Resistance level: $1.5, $1.8
ADA surprised the market with a significant jump in price today which is fast approaching the key resistance at $1.5. The support at $1.2 did an excellent job in keeping the bullish momentum intact, and now ADA seems to be on a mission.
Technical Indicators
Trading Volume: The volume exploded today after a quiet Saturday, bringing confidence and significant momentum behind this bullish move. It appears that ADA will test the critical resistance at $1.5 soon, given the sentiment remains.
RSI: The daily RSI has made a higher high and has moved above 50 points, putting it on a path higher.
MACD: The daily MACD turned bullish last Thursday and ever since the histogram has been making higher highs. This signals a strong bullish move is at play.
Bias
The current bias is bullish.
Short-Term Prediction for ADA Price
The first true test of this move will be the key resistance at $1.5. The current momentum favors the bulls, and the price is due to test this key level very soon. If ADA can break above, then a sustained rally can follow.
OhNoRipple via https://www.ohnocrypto.com/ @Duo Nine, @Khareem Sudlow
