#Cardano Price Forecast: Momentum Indicators Signal Bullish Trend

Cardano’s price found solid support near the crucial $0.70 level on August 3, triggering a rally of nearly 15% by Sunday. As of Monday, the upward momentum continues, with ADA gaining an additional 3% and trading above $0.82.

If $ADA sustains this momentum and manages to close above the daily resistance level at $0.84, it could potentially extend its rally toward the July 21 high of $0.93.

Technical momentum indicators reinforce this bullish outlook. The daily Relative Strength Index (RSI) stands at 61, exceeding the neutral midpoint of 50, which indicates strengthening bullish momentum. Additionally, the Moving Average Convergence Divergence (MACD) is exhibiting a bullish crossover, generating buy signals and suggesting the onset of an upward trend.