Main levels of support: $1.1, $1
Key Resistance Levels: $1.2, $1.36
The market turned bullish yesterday and ADA broke above key resistance at $1.1, which is now acting as support. The next level to break through is at $1.2, and the cryptocurrency continues to gain momentum to challenge it. ADA appears to be testing this level in the next few days, based on the broad market, which favors the buy side at the moment.
Technical Indicators
Trading Volume: ADA closed the last three days in green. While the volume was not high, it was dominated by bulls.
IRS: The daily RSI has reached a higher low, which is bullish. To reach a higher high, the RSI must move above 65 points, which is quite far 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 key resistance will pave 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.
