- Cardano’s price recovered gradually during today’s session, now trading at about $0.3555
- ADA was able to hold a support level around $0.3000, now forming a bullish trend line
- ADA fought off several lows in the last few hours, now testing a resistance of $0.3600
Cardano Breaking Through $0.3555
ADA price has recently broken through the $0.3555 level, which means it is now above the previously established resistance of $0.3380. Now, the coin is on a bullish trend testing a resistance of $0.3600, so investors will need to check if that holds for it to jump higher than the current price of $0.3400 (at the time of writing).
Surpassing $0.3555 was especially significant since it gives ADA a higher probability to go beyond $0.3600.
However, investors should note that Cardano is fast approaching overbought territory (based on the RSI indicator), and volume has been slowly picking up. A good sign is that the MACD indicator is reaffirming the bullish trend shown in the recent hours.
Looking at the Technicals:
- MACD — the MACD indicator is showing a bullish signal
- RSI — the RSI indicator for ADA shows that the coin is nearing overbought territory
- Major Support Level — $0.3400
- Major Resistance Level — $0.3600
Featured Image: twitter