Cardano continues to perform despite yesterday’s pullback.
Key Support levels: $0.46
Key Resistance levels: $0.60, $0.82
1. Momentum Returns
With buyers back in control, ADA appears ready to break the current resistance at 60 cents. Yesterday’s pullback was shallow and quickly absorbed by buyers, which continue to dominate.
2. Buy Volume Explodes
Last week’s buy volume was the highest it has ever been since 2021. Another week like that, and ADA could quickly see itself approaching the next target at 82 cents.
3. Expanding MACD
The daily MACD is in a clear bullish trend, and continuation appears most likely. ADA wants to move higher, but it has to break the key resistance first.
Bias
The bias for ADA is bullish.
Short-Term Prediction for ADA Price
A breakout appears likely, considering the current momentum. If successful, ADA can quickly move to 82 cents next.
SPECIAL OFFER (Sponsored)
Binance Free $600 (CryptoPotato Exclusive): Use this link to register new account and receive $600 exclusive welcome offer on Binance (full details).
LIMITED OFFER 2024 for CryptoPotato readers at Bybit: Use this link to register and open a $500 BTC-USDT position on Bybit Exchange for free!
Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.
Duo Nine is crypto educator and a seasoned technical analyst with over seven years of experience in price action trading. After buying his first Bitcoin in 2014, Duo never left this space. He also has a cool crypto community on Discord with over 4,000 members where he posts charts, opinions on the market and guides new members. Contact: Twitter | Community