💹 $ADA in Motion: Uptrend or just a temporary relief?
ADA is in a recovery phase, with a +1.50% increase in the last 24 hours and considerable trading volume. Technical indicators suggest that the price is above the short-term moving average (MA7), but still faces resistance at the 25-day moving average (MA25). The market is volatile, and ADA could test new support and resistance levels in the coming days.
Technical indicators point to a mixed scenario:
- The current price is above the 7-day moving average (0.7414 USDT), which is a positive sign for the short-term trend.
- However, it is still below the 25-day moving average (0.8585 USDT), which could indicate an upcoming resistance. If ADA manages to break through this barrier, it could pave the way for further highs.
- The 99-day moving average (0.9214 USDT) is well above, showing that in the long term, ADA still has potential to grow, especially if the uptrend consolidates.
If the price manages to break the resistance at 0.8309 USDT, we could see a continuation of the uptrend. On the other hand, if the price drops below 0.7693 USDT, there could be a sharper correction.
💬 What do you think?
Are you going to take advantage of this rally or would you rather wait and see if the price corrects a bit before jumping in? Let us know what you think in the comments! 👇
