ADA might start a rally as it finds support at $0.85
ADA found decent support at $0.85 and now seems poised to start a rally.
- Key Support: $0.85
- Major Resistances: $1, $1.1
ADA fell to the critical support at $0.85 and now the price is trying to rally back to the $1 resistance.
The cryptocurrency is unlikely to break above it, but at least the bulls will see a rally towards it soon.
Source: TradingView
Technical indicators
Volume: Volume is increasing after the recent drop and buyers appear to have returned to ADA.
RSI: The daily RSI is almost in the oversold territory today before the price turns around. The RSI is now rapidly moving up.
MACD: The daily MACD is still falling, but if momentum picks up, it could result in the MACD and the signal lines forming a bullish cross. That will change the current price action.
Source: TradingView
Perspectives
ADA’s current trend is neutral. Indicators are pointing to a rally, but it’s a bit early to count on it.
Short term prediction
Finding support is important for ADA as it confirms that the price is unlikely to drop that low at this point. Conversely, a rally can bring ADA back towards the critical resistance at $1.
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
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Author
Analysis
ADA might start a rally as it finds support at $0.85
ADA found decent support at $0.85 and now seems poised to start a rally.
- Key Support: $0.85
- Major Resistances: $1, $1.1
ADA fell to the critical support at $0.85 and now the price is trying to rally back to the $1 resistance.
The cryptocurrency is unlikely to break above it, but at least the bulls will see a rally towards it soon.
Source: TradingView
Technical indicators
Volume: Volume is increasing after the recent drop and buyers appear to have returned to ADA.
RSI: The daily RSI is almost in the oversold territory today before the price turns around. The RSI is now rapidly moving up.
MACD: The daily MACD is still falling, but if momentum picks up, it could result in the MACD and the signal lines forming a bullish cross. That will change the current price action.
Source: TradingView
Perspectives
ADA’s current trend is neutral. Indicators are pointing to a rally, but it’s a bit early to count on it.
Short term prediction
Finding support is important for ADA as it confirms that the price is unlikely to drop that low at this point. Conversely, a rally can bring ADA back towards the critical resistance at $1.
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: https://t.me/coincunews
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