December 5, 2022

Cardano Price Analysis: Here’s the Next Target for ADA Following 10% Daily Surge

1 min read

Key Support levels: $1.2, $1.1

Secret Resistance level: $1.5, $1.8

ADA amazed the market with a considerable jump in cost today which is quick approaching the key resistance at $1.5. The support at $1.2 did an excellent job in keeping the bullish momentum undamaged, and now ADA seems to be on an objective.

Chart by TradingView Technical Indicators Trading Volume: The volume exploded today after a quiet Saturday, bringing confidence and considerable momentum behind this bullish relocation. It appears that ADA will evaluate the critical resistance at$1.5 quickly, given the belief remains. RSI: The everyday RSI has actually made a greater high and has moved above 50 points, putting it on a path greater.

MACD: The everyday MACD turned bullish last Thursday and since the histogram has actually been making higher highs. This indicates a strong bullish move is at play.


Chart by TradingView Bias

The present bias is bullish.

Short-Term Prediction for ADA Price

The first true test of this move will be the crucial resistance at $1.5. The present momentum prefers the bulls, and the price is due to check this essential level soon. If ADA can break above, then a sustained rally can follow.