Ada breaks out, is the target of $ 2.4 imminent?

Ada breaks out, is the target of $ 2.4 imminent?

key support level: $ 2; $ 2.2
key resistance level: $ 2.4; $ 3

As specified in previous Analysis , Cardano (ADA) has tried several times to break away from the descending channel, and has finally done this today with continued volume. This means that the price is between $ 2 and $ 2.4-levels that also act as support and resistance. A confident thrust of the bulls can bring the price beyond the important resistance and closer to the all-time high of $ 3.

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Technical ADA price indicators

volume : The movement was very pronounced, and at the time of this article the four-hour time frame shows three green candles. This indicates a strong dynamic of the bulls after the outbreak.

rsi : The RSI is located in the four-hour time frame in the overbought area (> 70), which indicates that a setback to USD could be possible in the near future before a sequel takes place.

macd : The daily MacD is firmly placed on the bullish side of the daily time frame. The histogram draws higher highs and the sliding average widens. That's bullish.

bias

The tendency can be referred to as Bullish at short notice. Ada seems to be on the best way to test the resistance of $ 2.4. We have to carefully observe the price movement at this level and see if it has the strength to push further up. In the last two attempts to break through this resistance, the bears sent the course from ADA back towards the most important support. Therefore, it is best to be patient and to be guided by the price.

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Short -term price forecast for Cardano (ADA)

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