ADA shoots up by 16 % daily, here is the next big destination (Cardano price analysis)

ADA shoots up by 16 % daily, here is the next big destination (Cardano price analysis)

The price of Cardano has increased by a whopping 30 %in the past seven days, with the majority of these profits being recorded in the last 24 hours.

Important support levels: $ 0.30, $ 0.24

Important resistance level: $ 0.34, $ 0.38

Cardano did not disappoint and started this week with a massive rally booking, a price increase of 16 % in the last 24 hours. Ada converted the resistance of $ 0.30 in support. This pressed the price to $ 0.34, which will probably be a difficult to break up.

At the time of this article, the bears managed to reject the price on the key resistance. It remains to be seen whether the rally continues.

Diagram of TradingView

trade volume: The volume exploded during this rally and reached a level that has not been reached since November 2022.

rsi : Surprisingly, the day-RSI is in the overbought area with 73 points. This signals a strong bullish momentum.

macd : The daily MacD is bullish and the histogram makes higher highs. As long as this continues, the bias would remain positive.

Diagram of Tradingview

bias

The tendency for ada is bullish.

Short-term forecast for the ADA Prize

The biggest challenge for ADA is to break the resistance brand of $ 0.34. If this succeeds, it could quickly approach 38 cents, where it will probably be exposed to another bare pushback. The support at $ 0.30 is the first barrier to stop any sales pressure, should come.

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