How High Can It Go? (cardano Price Analysis)
Cardano continues its performance despite yesterday’s pullback.
Key Support levels: 0.46 USD
Key Resistance levels: $0.60, $0.82
1. Momentum Returns
ADA looks poised to break the current resistance at 60 cents as buyers regain control. Yesterday’s pullback was superficial and continued to be quickly absorbed by the prevailing buyers.
Chart by TradingView
2. Purchasing Volume Explodes
Last week’s purchasing volume was the highest since 2021. Another week like this and ADA could see itself quickly approaching the next target of 82 cents.
Chart by TradingView
3. Broadening the MACD
The daily MACD is in a clear uptrend and continuation seems likely. ADA wants to move higher but has to break key resistance first.
Chart by TradingView
Prejudice
ADA’s trend is upward.
Short Term Forecast on ADA Price
A breakout seems likely given the current momentum. If successful, ADA could quickly move to the next 82 cents.
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Cryptocurrency charts from TradingView.
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