Cardano (ADA)Crypto News

ADA breaks above $ 1.3, here’s the next target

                                                            <strong>Wichtige Unterstützungsstufen: $1,3</strong>

Key Resistance Level: $ 1.5

ADA did not look back after breaking the descending triangle (in blue) and appears ready for more gains. It reversed the downtrend with a strong upward momentum that got the price above $ 1.3. If ADA can convert that level into support, the next target is at $ 1.5, what is called a resistance will act.
Chart according to TradingView

This is what awaits you in this article

Technical indicators

Trading Volume: The volume was strong during the outbreak and remains high. The biggest question now is whether ADA can hold above $ 1.3.

RSI: The RSI is climbing rapidly and has made a higher high in the time frame of the day. The RSI is currently at 48 points, if it can go above 50 and stay there the bulls will control price.

MACD: The MACD in the daily time frame is expanding and moving up. This is very bullish and there is no sign of weakness during this recent rally. Both the histogram and the moving averages also make higher highs.
ADA breaks above $ 1.3, here&#8217;s the next target, Crypto Trading NewsChart according to TradingView


The current trend is bullish.

Short term forecast for the ADA price

The biggest challenge for ADA right now is to convert the key level at USD 1.3 into a support and confirm it by retesting it. Once that completes, ADA will be able to lift the $ 1.5 resistance which, at the time of this post, requires a 10% price hike.


Source: Crypto News Deutsch

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