Chart by TradingView
ADA’s correction has ended as buyers pushed the price above 40 cents.
Key Support levels: $0.38, $0.40
Key Resistance levels: $0.44, $0.48
ADA successfully retested the key support at 38 cents and, in the process, ended its correction. Since then, the bulls have been on the offensive and have managed to take the price back above 40 cents which turned into support.
Trading Volume: The volume peaked at 48 cents and since then has been steadily decreasing. The recent price reversal did not change that.
RSI: The daily RSI moved above 50 points and is turning bullish. Buyers have to sustain the momentum to capitalize on this reversal.
MACD: The daily MACD is making higher lows and could do a bullish cross in a few days should buyers continue to dominate.
The bias for ADA is bullish.
With the price above 40 cents, the bulls have regained control of the price action. Should this momentum continue, then the next key levels of resistance are at 44 and 48 cents.
