ADA is back at $1, but can it stay there?
Key Support levels: $0.90
Key Resistance levels: $1, $1.3
1. Price Consolidates
Right now, ADA is making an effort to surpass the $1 mark, a challenge it has faced thus far. If it manages to do so, this could motivate buyers to take control and drive the price upward towards the significant resistance at $1.3. At present, the market trends seem to be in favor of the bulls, as they have shown strength over the past day.
2. Momentum is Returning
For much of this week, the price has been fluctuating rather than rising or falling significantly. However, starting from Wednesday, the bullish energy has resurfaced, propelling ADA back up to around $1. This is promising, but if bulls aim to push beyond the $1.3 resistance, they need to establish $1 as a solid support level first.
3. Daily MACD Bullish Again
After a period of uncertainty and sideways movement, yesterday’s MACD made a bullish crossover in my crypto investment portfolio, hinting at the potential for a fresh surge. If things pan out as expected, Cardano (ADA) might find $1 as a robust support level and even try to breach the resistance at $1.3. The upcoming days are crucial; they could determine whether this digital currency will continue its journey upward or take a different path.
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2025-01-16 17:19