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.
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.
Special Offer (Sponsorship) Binance Free $100 (Exclusive): Use this link to sign up and get $100 Free and 10% off Binance Futures first month (terms) fee.
PrimeXBT Special: Use this link to sign up and enter the POTATO50 code to get up to $7,000 in deposits.
Disclaimer: Information found on CryptoPotato is that of the cited author. It does not represent an opinion of CryptoPotato as to whether to buy, sell or hold any investment. It is recommended that you conduct your own research before making any investment decisions. Use of the information provided is at your own risk. See Disclaimer for details.
Cryptocurrency charts from TradingView.
Source of information: Compiled from CRYPTOPOTATO by 0x Information.The copyright belongs to the original author and shall not be reproduced without permission