ADA is facing a key resistance after gaining 11% this week
ADA is currently challenging the critical resistance at $1.20 and has a good chance of moving higher.
- Major support levels: $1.1
- Major Resistances: $1.2, $1.3, $1.5
Just like the general sentiment over the past few days, ADA had a good week of growth (11 percent ROI according to CoinGecko) and broke the $1 – $1.10 resistance area.
The $1.2 zone is the next resistance to watch. If the price breaks out and flips $1.2 to support, the next target is $1.3 and higher to $1.5 if momentum lasts.
Daily ADA/USDT Chart | Source: TradingView
Technical indicators
Loudness: There was a decent amount of loudness on the last hit, but nothing out of the ordinary. We expect volume to increase as prices increase.
RSI: The daily RSI has not yet made a higher high but has made a higher low. The RSI needs to surpass 65 to set a higher high, which looks feasible next week. The RSI is currently at 54.
MACD: The daily MACD remains bullish with moving averages widening and histogram momentum bars higher. This favors the continuation of the upward movement.
Daily ADA/USDT Chart | Source: TradingView
Perspectives
The current trend is up.
Short term prediction
ADA price continues to move higher at a steady rate, in line with Bitcoin’s bullish momentum. If this continues, ADA can easily reach $1.3 in the coming days.
Disclaimer: This article is for informational purposes only, not investment advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions.
Join CoinCu Telegram to keep track of news:Â https://t.me/coincunews
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Author
Analysis
ADA is facing a key resistance after gaining 11% this week
ADA is currently challenging the critical resistance at $1.20 and has a good chance of moving higher.
- Major support levels: $1.1
- Major Resistances: $1.2, $1.3, $1.5
Just like the general sentiment over the past few days, ADA had a good week of growth (11 percent ROI according to CoinGecko) and broke the $1 – $1.10 resistance area.
The $1.2 zone is the next resistance to watch. If the price breaks out and flips $1.2 to support, the next target is $1.3 and higher to $1.5 if momentum lasts.
Daily ADA/USDT Chart | Source: TradingView
Technical indicators
Loudness: There was a decent amount of loudness on the last hit, but nothing out of the ordinary. We expect volume to increase as prices increase.
RSI: The daily RSI has not yet made a higher high but has made a higher low. The RSI needs to surpass 65 to set a higher high, which looks feasible next week. The RSI is currently at 54.
MACD: The daily MACD remains bullish with moving averages widening and histogram momentum bars higher. This favors the continuation of the upward movement.
Daily ADA/USDT Chart | Source: TradingView
Perspectives
The current trend is up.
Short term prediction
ADA price continues to move higher at a steady rate, in line with Bitcoin’s bullish momentum. If this continues, ADA can easily reach $1.3 in the coming days.
Disclaimer: This article is for informational purposes only, not investment advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions.
Join CoinCu Telegram to keep track of news:Â https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
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