Cardano (ADA) is trading at $0.6916, reflecting a 3.47% increase. The intraday high is $0.6949, with a low of $0.651393, showing mixed momentum with breakout potential.
Technical Analysis Across All Timeframes
- Short-Term Analysis (Daily Chart): ADA has bullish momentum with support at $0.60. A break above $0.77 could lead to $0.83, offering a 13% gain. The RSI remains neutral, signaling room for further upward movement without immediate overbought risks.
- Medium-Term Outlook (Weekly Chart): On the weekly chart, ADA trades within a descending channel, hinting at consolidation before a breakout. Key resistance lies at $1.00 and $1.15. If bullish trends continue, ADA may test these levels soon. Momentum indicators show neutral conditions, implying accumulation before a major move.
- Long-Term Trend (Monthly Chart): Long-term, ADA is recovering from prior lows with strong support at $0.60. A breakout past $1.15 could trigger a broader upward trend, similar to previous bullish cycles.
Price Targets
- Short-Term: Breaking $0.77 could push ADA toward $0.83.
- Medium-Term: ADA could reach $1.00–$1.15 if bullish momentum persists.
- Long-Term: A breakout above key resistance could launch ADA into a sustained uptrend.
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Cardano is in a consolidation phase with bullish potential. Watch for a move above $0.77, which could spark further upward momentum. Failure to hold support at $0.60 may result in short-term pullbacks. As always, monitor market conditions and adjust strategies accordingly.
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.
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