Key support for ADA surges 15%, next target (Cardano Price Analysis)

Once the bears reach a key support level, they completely lose control of the price action.

Key support level: $0.30

Key resistance levels: $0.35, $0.38

ADA finally found good support at 30 cents, from where the bulls managed to turn the momentum in their favor. The price rebounded quickly and hit the resistance level of 35 cents. This strong performance makes the chart bullish and ADA could head higher later this week.

TradingView Charts

Volume: Explosive buying volume suddenly reversed the downtrend. This is bullish.

RSI: Daily RSI touched the mid-line at 50 points. Buyers need to keep the pressure on to protect their recent gains.

MACD: The daily MACD completed a bullish crossover yesterday. This is a significant change in momentum and could herald the start of an ongoing reversal.

TradingView Deviation Chart

The bias for ADA is bullish.

ADA Price Short Term Prediction

With the latest bounce off support, ADA has turned bullish according to the momentum indicator. If buyers break the resistance at 35 cents, the cryptocurrency’s next target could be 38 cents.

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Cryptocurrency charts from TradingView.

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