2 Years Old Cryto News Website

After its 5% daily gain, is ADA ready to test $1.2?

Key Support Levels: $1.1, $1 Key Resistance Levels: $1.2, $1.36 The market turned bullish yesterday and ADA has risen above the key resistance of $1.1 which is now acting as a support. The next level to hit is $1.2, and the cryptocurrency is still gaining momentum to challenge it. ADA looks likely to test this level in the coming days, depending on the general market, which is currently favoring the buyer’s side. Chart by TradingView Technical Indicators Trading Volume: ADA closed in the green for the past three days. Although 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 rise above 65 points, which is quite a distance from the current level at 50 points. MACD: The daily MACD turned bullish yesterday after a positive crossover. Now momentum is in favor of bulls but ADA will be challenged by the USD 1.2 resistance. Chart by TradingView Bias The current bias is bullish. A clean break above the key resistance will open the way for ADA to go much higher. Short Term Forecast for ADA Price The price action for ADA turned bullish yesterday and now buyers are preparing to attack the USD 1.2 resistance which is the main challenge. If successful, the cryptocurrency could start a stronger rally. SPECIAL OFFER (Sponsored) Binance Free $100 (Exclusive): Use this link to register and get $100 Free and 10% Off Fees on Binance Futures First Month (Terms and Conditions). PrimeXBT Special Offer: Use this link to register and enter POTATO50 code to get 25% off trading fees. Disclaimer: Information on CryptoPotato is that of quoted writers. It does not represent CryptoPotato’s views on buying, selling or holding any investments. You are advised to do your own research before making any investment decisions. Use information provided at your own risk. See Disclaimer for more information. Cryptocurrency Charts by TradingView.
Source link
Leave a Reply

Your email address will not be published. Required fields are marked *

Related Posts