📊1. Current price and market performance $ADA
- Current price: $0.735.
- 24-hour change: Up by 12.21% - 12.57%.
- Weekly performance: Up by 27.22%.
- Market capitalization: $25.88 billion, ranked #13 among cryptocurrencies.
---
Daily technical analysis
- Moving averages:
- EMA-9 (short-term) shows a strong buy signal, with the possibility of surpassing EMA-21 soon.
- 50-day moving average (SMA-50) at $0.646, supporting the upward trend.
- Relative Strength Index (RSI): at 63.91 (neutral), currently avoiding overbought territory (>70).
- Support and resistance levels:
- Strong support: $0.51 (recently tested).
- Nearby resistance: $0.61, and if broken, it may target $0.86.
- Daily signals:
- Strong buy signal on short time frames (15 minutes - 1 hour).
- Warning: Attempting to liquidate overbought conditions may lead to a temporary correction.
---
Near-term forecasts and risks
- Positive scenario:
- Breaking resistance at $0.61 may push the price towards $0.77 (5-day target) then $0.86.
- Success in attracting stable partnerships may boost confidence in the medium term.
- Negative scenario:
- High volatility (16.31%) may lead to sudden corrections, especially with any negative regulatory news.
- Failure to break $0.61 may bring the price back to support at $0.51.
