Cardano (ADA)Crypto News

ADA signals bullish divergence, retest of $ 1.3 incoming?

                                                            Obwohl ADA auf die Unterstützung gefallen ist, hat es eine bullische Divergenz gebildet, was auf eine mögliche baldige Aufwärtsbewegung hinweist.

Major support levels: $ 1.2, $ 1

Key Resistance Level: $ 1.3, $ 1.5

ADA retested the support at USD 1.2 yesterday, making a lower low. However, the RSI has made a higher low, suggesting a bullish divergence. As long as the important level of support holds, ADA has a good chance of getting back into the uptrend and possibly trying that resistance breaking through at $ 1.3.
Chart according to TradingView

This is what awaits you in this article

Technical indicators

Trading Volume: The volume is low, but that’s typical for weekends. The coming days of the week may bring back much-needed volatility to ADA.

RSI: As mentioned above, there is a bullish divergence on the daily RSI. This is a positive sign for buyers and could give them the momentum they need to break out of this area and break up.

MACD: The MACD on the daily timeframe made a crossover on the positive side last week. The bulls have maintained this momentum so far, although the support level has been retested. If this continues, ADA will likely attempt a rally soon.
ADA signals bullish divergence, retest of $ 1.3 incoming?, Crypto Trading NewsChart according to TradingView

Bias

The current preload is neutral. If ADA breaks above the major resistance at $ 1.3 and closes above it, the trend may change into a bull market.

Short term forecast for the ADA price

The price of ADA is just above the key support at $ 1.2 and is likely to stay here until the momentum changes; Of course, this also depends on the dynamics of the entire crypto market. The indicators support the option of targeting the USD 1.3 resistance again but this has yet to be seen in the next week.

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Source: Crypto News Deutsch

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