After a tense day when the Bulls had to defend their main support, Cardano shows signs that it might try to rally.
Main support levels: $ 0.45, $ 0.38
Key resistance levels: $ 0.50, $ 0.55, $ 0.66
Buyers were able to keep the ADA above the $ 0.45 key support. Now, shorter time frame indicators indicate that sellers have acknowledged this battle and prices may rise. The Bulls must take a price above the $ 0.50 resistance to gain sufficient confidence to rise towards $ 0.55.
Technical indicators
Transaction volume: The volume remains low. Weekends fell sharply, but buyers showed interest on Monday. It is important that ADA continue to maintain this momentum.
RSI: The daily RSI is flat at around 40 points, but in the 4-hour time frame, it is making higher lows and highs. This is positive, but ADA requires more volume.
MACD: Daily MACD remains bullish, but lacking momentum. As long as the ADA is above $ 0.45, buyers have a chance to raise the price.
bias
The ADA bias is neutral.
Short-term forecast of ADA price
Especially with this $ 0.45 key support, there is a lot of tension around ADA. As soon as the balance of power between the bulls and the bears changes, prices can experience a sharp rise in volatility.
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Cryptocurrency chart According to TradingView.
