Cardano (ADA) is trading at $0.7710, gaining 2.59% in the last 24 hours. ADA has been consolidating between $0.70 and $0.77, with bullish momentum building toward key resistance levels.
Short-Term (Hourly) Analysis
ADA holds immediate support at $0.7380, with a stronger base at $0.7200. Resistance sits at $0.7550, with a crucial breakout zone at $0.7620. A sustained move above this level could trigger a rally toward $0.80.
Medium-Term (Daily) Analysis
On the daily chart, $0.70 remains a key support level. Holding above it could propel ADA toward $0.80 and $0.85. However, a break below might push prices to $0.6791 or $0.65.
Long-Term (Weekly) Analysis
From a broader perspective, $0.60 is a strong support zone. Major resistance stands at $1.00 and $1.15. Sustaining levels above $0.70 increases the likelihood of an uptrend toward the $1 mark in 2025.
Technical Indicators and Next Move Prediction
RSI: ADA remains neutral, signaling a balance between buyers and sellers.
Moving Averages: The 50-day and 200-day EMAs act as resistance, requiring a breakout for sustained bullish momentum.
We are on twitter, follow us to connect with us :- @TimesTabloid1
— TimesTabloid (@TimesTabloid1) July 15, 2023
If ADA breaks $0.7620, expect a move toward $0.80 and $0.85. A failure to clear resistance could lead to a retest of $0.70.
ADA is at a pivotal point. A breakout above $0.76 could drive prices higher, while a dip below $0.70 risks further downside. Traders should monitor volume and sentiment for confirmation of the next major move.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
Follow us on X, Facebook, Telegram, and Google News
