Momentum Shifts Bullish
Cardano (ADA) is making a comeback as it recently broke through the resistance level of $0.41, which has now become a support level. The next target for ADA is $0.46.
Volume Returns
Buyers have shown strength in the past three days, dominating the chart. This is a positive change after a decline in volume throughout November. Hopefully, this trend will continue in December.
Daily MACD Turns Bullish
Yesterday’s price action has turned the momentum indicators bullish, with the daily MACD crossing over to the upside. This indicates a reversal and suggests that ADA could reach higher levels if the momentum continues.
Bias
The overall bias for ADA is bullish.
Short-Term Prediction for ADA Price
With bears defeated, Cardano has a clear path to move higher. Keep an eye on the resistance level at $0.46, as it will determine the next direction for this cryptocurrency.
Hot Take: Cardano Gains Momentum with Breakout
Cardano (ADA) has gained momentum with its recent breakout above the $0.41 resistance level. With volume returning and bullish signals from the daily MACD, ADA is poised for further gains. The key level to watch now is $0.46, which will determine the next move for this cryptocurrency.
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