After a significant push higher, buyers are taking a break as the bullish momentum stalls.
Key Support levels: $0.28
Key Resistance levels: $0.32, $0.35
ADA has reconfirmed the 28 cents as key support after buyers failed to take the price higher. This is a normal pullback considering the rapid increase in the price from a week earlier.
To sustain the bullish bias, Cardano has to hold here, otherwise, sellers may take control of the price action again.
Trading Volume: The volume has decreased over the weekend, and market participants don’t seem too interested in making any decisive moves at this time.
RSI: The daily RSI failed to reach 50 points and is curving down. If it reminds under this level, bears could return.
MACD: While the daily MACD is bullish, the histogram is turning flat. If buyers don’t return soon, the MACD could start to fall.
Bias
The bias for ADA is neutral.
Short-Term Prediction for ADA Price
ADA is likely to continue holding at the key support before a major move follows. If buyers manage to return in force, then the next key level of resistance is found at 32 cents.
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Cryptocurrency charts by TradingView.
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