Cardano surged above $0.94 on Thursday, but the long wick on the candle shows selling near the resistance of $1.02.
The moving averages have started to rise and the RSI is near the overbought zone, indicating that the bulls are in control. Buyers will try again to push the price of Cardano above $1.02. If they succeed, the ADA/USDT pair could rise towards the upper resistance zone of $1.17 to $1.25.
The first sign of weakness will be a break and close below the 20-day exponential moving average (EMA) ($0.81). This opens the door to a drop down to the 50-day simple moving average (SMA) ($0.73).