The biggest challenge for Cardano after 45 % monthly increase (ADA price analysis)

The biggest challenge for Cardano after 45 % monthly increase (ADA price analysis)

The price of Cardano was able to rise steadily every day. But how long can the bulls keep the rally alive?

Important support levels: 0.36 $

Important resistance level: 0.40 $

During the price, ADA will be faced with a significant challenge at $ 0.40, in which the sellers are expected to take a position. In the past, this level caught the price and a steep correction followed. This can happen again, and if this is the case, there is support at $ 0.36.

Diagram of Tradingview

trade volume: The volume is still high, with strong interest from buyers last week.

rsi : The RSI is over 80 points and thus in the overbought area. Nevertheless, this is also a signal for a strong bullish momentum.

macd : The day macd is bullish, but the histogram falls, which shows that buyers become weaker over time. This could be used by bears as soon as the price reaches key resistance.

bias

The tendency for ada is bullish.

Short-term forecast for the ADA Prize

AdA has successfully overcome several important resistance brands at $ 0.30 and $ 0.36, which now serve as support. However, the biggest test is still imminent, and it would be interesting to see whether ADA will break over $ 0.40 after such a rally.

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