Image default
Daily Skyrockets

ADA Skyrockets 7% Daily But Will $0.55 Fall? (Cardano Price Analysis)

ADA’s price rallied over 20% in the past three days and is now found below a key resistance.

Key Support levels: $0.50, $0.45 

Key Resistance levels: $0.55, $0.66 

After Cardano turned the $0.50 level into support, the price quickly moved higher to the key resistance at $0.55. ADA is more likely to pull back here, and this would be a test to see if the buyers have sufficient momentum to attempt a break higher towards $0.66.

Chart by TradingView

Technical Indicators

Trading Volume: The volume went up as ADA’s price increased. This is bullish and if momentum maintains, then ADA could run higher.

RSI: The daily RSI is close to the overbought zone at 70 points. The price can still go higher before a significant correction.

MACD: The daily MACD is bullish, and momentum improved significantly, as shown by the histogram in the past three days.

Chart by TradingView

Bias

The bias for ADA is bullish.

Short-Term Prediction for ADA Price

Having managed to reach a price above half a dollar, ADA is experiencing a strong uptrend which could push it above the current range that has key resistances at $0.55 and $0.66. If buyers remain interested, then a breakout above $0.55 is very likely in the near future.

SPECIAL OFFER (Sponsored)

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 receive up to $7,000 on your deposits.

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.

Read More

Related posts

BTC Skyrockets to $23K, Here’s the Next Target if Bulls Maintain Momentum (Bitcoin Price Analysis)

Nas Daily’ Academy Partners With Web3-Focused Invisible College

Polkadot (DOT) Skyrockets 15% Following Coinbase Pro Listing

CoinNewsView.com

Leave a Comment

* By using this form you agree with the storage and handling of your data by this website.