Key Support levels: $1.1, $1
Key Resistance levels: $1.2, $1.36
The market turned bullish yesterday, and ADA has moved above the key resistance at $1.1, which is now acting as support. The next level to pass is at $1.2, and the cryptocurrency is still gathering momentum to challenge it. ADA seems likely test this level in the coming days, depending on the overall market, which favors the buyer’s side at this time.
Technical Indicators
Trading Volume: ADA closed the last three days in green. While the volume was not high, it was dominated by bulls.
RSI: The daily RSI has made a higher low which is bullish. To make a higher high, the RSI needs to move above 65 points which is quite a distance from the current level at 50 points.
MACD: The daily MACD has turned bullish yesterday after a positive crossover. Now, the momentum is favoring bulls, but ADA will be challenged by the $1.2 resistance.
Bias
The current bias is bullish. A clean break above the key resistance will open the way for ADA to move much higher.
Short-Term Prediction for ADA Price
The price action for ADA has turned bullish yesterday, and now the buyers are preparing their assault on the $1.2 resistance, which is the most significant challenge. If successful, the cryptocurrency could begin a stronger rally.
Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).
PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 25% off trading fees.
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.
Cryptocurrency charts by TradingView.
This news is republished from another source. You can check the original article here
Be the first to comment