Cardano (ADA)Crypto News

ADA Rebounds 5% On Vasil Hard Fork Day, Is $0.5 Next? (Cardano Price Analysis) – Crypto News News

                                                            ADA gelang es, den Abwärtstrend zu stoppen, und die Bullen drückten den Preis an dem Tag nach oben, an dem das Protokoll sein Vasil-Upgrade in Betrieb nehmen wird.

Key support levels: $0.43, $0.38

Key resistance levels: $0.50, $0.56

Buyers came in strong today and managed to turn the price action above the key support at $0.43. If this bullish momentum continues, the ADA could rally towards $0.5, which is the current Resistance is. Again, this would be a sign that the downtrend is about to reverse.
ADA Rebounds 5% On Vasil Hard Fork Day, Is $0.5 Next?  (Cardano Price Analysis) – Crypto News News, Crypto Trading NewsChart from TradingView

Technical indicators

Trading volume: Volume picked up yesterday and closed in the red but today this was quickly reversed and buyers have the upper hand.

RSI: The daily RSI is approaching 50 points. If the buyers manage to propel it higher, the momentum could reverse in their favor.

MACD: The daily MACD remains bearish but the histogram is making higher lows which is an early sign of a possible reversal of the downtrend.
ADA Rebounds 5% On Vasil Hard Fork Day, Is $0.5 Next?  (Cardano Price Analysis) – Crypto News News, Crypto Trading NewsChart from TradingView

bias

The bias for ADA is neutral.

Short term prediction for ADA price

Currently, ADA has managed to halt the downtrend and buyers seem excited. This is a good sign, but the bulls need to withstand the pressure if they are to successfully break the key $0.50 resistance.

Source: Crypto News Deutsch

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