🚀 Cardano ADA Price Prediction: Is the Coin Approaching the $1 Breakthrough? 🚀
Cardano (ADA) traded near the $0.80 level, as bulls tested a key resistance at $0.8475.
📈 4-Hour Technical Analysis Shows:
The price recovered from strong support at $0.72.
ADA is above the 50-day moving average ($0.7540) and the 200-day moving average ($0.7678), which is a positive indicator of the bullish trend strength.
The Relative Strength Index (RSI) is at 63.84, indicating that there is room for an increase before reaching overbought areas.
🎯 Key Resistance and Support Levels:
Immediate resistance at $0.8475
Major resistance at $0.90
Immediate support at the 200-day moving average $0.7678
Key support at $0.72
✅ As long as the price maintains support at $0.75, expectations indicate the continuation of the bullish momentum, with the possibility of the price reaching $0.90 and then attempting to reach $1.
⚠️ However, if the price fails to break through the resistance at $0.8475, we may see a temporary correction or a period of volatility.
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⚠️ Disclaimer: This post is for informational purposes only and is not investment advice. Please do your own research and consult a financial advisor before making any trading decisions.
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