Cardanos ADA Price Tightens at $0.36 – Will it Explode Soon?

Cardanos ADA Price Tightens at $0.36 - Will it Explode Soon?


Learn about the current state of Cardano’s price and potential breakout as it consolidates under key resistance levels, with analysis on support and resistance levels, trading volume, RSI, and MACD.

With the price consolidating under the main resistance, ADA may attempt a breakout.

Key Support levels: $0.36, $0.34

Key Resistance levels: $0.38, $0.40

The price has formed a double bottom with good support at 36 cents. As long as this key level holds, bulls have a good chance to take ADA’s price to the resistance at 38 cents. A breakout over it would confirm the end of this correction that started in April.

Trading Volume: The volume persists to be low, and momentum has is still to return for bulls.

RSI: The daily RSI is making higher bottom Line which gives hopes of a reversal soon.

MACD: The daily MACD did a positive  tendency cross today, and if buyers return, it  can potentially signal the start of an uptrend.

ADAUSDT_2023-05-22_15-37-23
Chart by TradingView

Bias

The bias for ADA is neutral.

Short-Term Prediction for ADA Price

Cardano (ADA) is found at a critical moment which will be decisive for the remainder of the 30 days. If buyers manage to return and break the main resistance at 38 cents, then ADA will turn  positive  tendency and could visit 40 cents next.

Source

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