Market

ADA bulls are back, here’s the next target

ADA had an explosive Sunday with prices up 10% after a quiet week.

Major support levels: $1.2, $1.1
Key Resistance: $1.53, $1.8

ADA surprised the market with a massive price jump over the weekend and is fast approaching the key resistance at $1.53.

The $1.2 support level has been excellent to keep the price low and act as a springboard for the ADA rally.

Source: TradingView

Technical indicators

Volume: Volume has exploded over the weekend adding significant confidence and momentum to this move higher. It looks like will soon test the critical resistance at $1.53 as bullish sentiment holds.

RSI: The daily RSI has made a higher high and surged above 50, a sign that the bulls are back.

MACD: The daily MACD has formed a bullish cross and is about to step into positive territory. Support uptrend continuation.

Source: TradingView

Perspectives

The current trend is up.

The momentum is in favor of the bulls and the price will soon test the critical $1.53 level. If ADA can break above it, a move to the next resistance at $1.8 is possible.

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Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.