Among the coins worth keeping an eye on during the recent surge, Cardano is displaying positive indications that it could potentially climb further.
By Edris Derakhshi (TradingRage)
The USDT Paired Chart
On the ADA/USDT daily chart, the price behavior is quite intriguing. After facing rejection at the $1.2 resistance point, the asset has been gradually decreasing. Yet, there’s been a swift turnaround at the $0.75 support level, breaking through the bearish trendline upward.
Currently, the value of the asset is surging towards the current resistance point of around $1.2, and if it successfully breaks this barrier, it might lead to a further rise that could establish a new peak.
The BTC Paired Chart
On a daily basis, the pattern of ADA/BTC and BTC/USDT prices appears quite analogous. The market has consistently found support around the 900 SAT mark and is currently climbing back towards the 1,500 SAT resistance area.
With the RSI indicating that the momentum is bullish, it is quite probable that the market will reach the mentioned zone, which would mean that ADA is likely to outperform BTC in the upcoming weeks.
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2025-01-06 18:22