Ever since the ADA found support at $0.55, the charts look bullish. If buyers persist, then ADA is likely to exceed key resistance.
Key support levels: $0.50, $0.55.
Key resistance levels: $0.64, $0.75.
Despite the turbulent market, which gives conflicting signals, ADA has consistently won over the past few days. The price is now just below the key resistance at $0.64. If this momentum continues, buyers could take the cryptocurrency higher and higher. Key support is at $0.55 and it is holding up very well to date.
Trading volume: Buying volume was very robust and brought ADA back below key resistance.
Relative strength index: The daily RSI is also rising and is rapidly approaching 60 points. This puts the RSI on the bullish side.
MACD: The daily MACD is bullish and the histogram is making higher highs again. This is a big change of pace after the price consolidated earlier this week.
The bias for ADA is currently bullish and a break of key resistance would confirm this.
Short term ADA price prediction
As long as buying volume remains stable, ADA is likely to top $0.64. If successful, he has a clear path to the next $0.75.
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Cryptocurrency charts from TradingView.
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