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ADA Explodes 9% Daily and Breaks $0.30, Here’s Next Target (ADA Price Analysis)
ADA buyers managed to stop and reverse the downward trend - causing the price to rise back above 30 cents. Key Support Levels: $0.29 Key Resistance Levels: $0.32, $0.35 After some hesitation, price action turned bullish on Tuesday. Since then, ADA has broken the resistance at 29 cents and turned it into support. With the price now above 30 cents, buyers may be able to push even higher, with the next target at 32 cents. Chart from TradingView Trading Volume: Buying volume increased and price responded quickly. Buyers dominated in the last four days. RSI: …
ADA Explodes 9% Daily and Breaks $0.30, Here’s Next Target (ADA Price Analysis)
ADA buyers managed to stop and reverse the downward trend - causing the price to rise back above 30 cents.
Key Support Levels: $0.29
Key Resistance Levels: $0.32, $0.35
After some hesitation, price action turned bullish on Tuesday. Since then, ADA has broken the resistance at 29 cents and turned it into support. With the price now above 30 cents, buyers may be able to push even higher, with the next target at 32 cents.
Chart from TradingView
Trading volume:Buying volume has increased and the price has reacted quickly. Buyers dominated in the last four days.
RSI: The daily RSI is approaching 50 points. Bulls will need to keep the momentum in their favor if they want to defend these recent gains.
MACD: The daily MACD turned bullish yesterday. This could be the start of a longer rally that can recoup some of the recent losses.
Chart from TradingView
Bias
The bias for ADA is bullish.
Short-term forecast for ADA price
Earlier this week, sellers were exhausted and as Bitcoin recovered, ADA buyers seized the opportunity by pushing the price above 30 cents. As long as they can protect these recent gains, the price could continue to rise in the near term, with key targets at 32 and 35 cents.
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