Cardano $ADA with trend #alcista short-term investment.
Here is an updated technical analysis of Cardano (ADA) as of May 9, 2025, based on the latest market data:
📊 Market Summary
Current price: $0.7831 USD
Daily change: +8.08%
Intraday high: $0.8114 USD
Intraday low: $0.7246 USD
Cardano has experienced a remarkable increase in its price, surpassing key resistance levels and showing strong bullish momentum.
🔍 Detailed Technical Analysis
1. Trend and Price Structure
$ADA has broken the critical resistance of $0.70, reaching a high of $0.8114 USD. This movement indicates a possible continuation of the bullish trend, with upcoming targets at $0.85 and $1.00 USD.
2. Technical Indicators
Golden Cross: A "golden cross" has formed on the hourly chart, where the short-term moving average crosses above the long-term moving average, signaling a bullish trend.
RSI (Relative Strength Index): Currently at 70.99, indicating overbought conditions and the possibility of a short-term correction.
MACD: Shows a bullish crossover, supporting the continuation of positive momentum.
3. Key Levels
Supports: $0.68, $0.67, and $0.64 USD
Resistances: $0.72, $0.75, and $0.80 USD
Staying above $0.70 is crucial to maintain the current bullish trend.
📈 Short-Term Outlook
If ADA manages to consolidate above $0.72 USD, it could aim for $0.80 USD. However, the elevated RSI suggests caution, as there may be a correction before continuing upward. The mentioned support levels will be key to assess the strength of the trend.
📌 Conclusion
Cardano shows positive technical signals with strong bullish momentum. Nevertheless, it is important to monitor overbought indicators and support levels to manage potential risks. As always, it is recommended to conduct further analysis and consider fundamental factors before making investment decisions.