(Prev targets done) Multiweek breakout:Next target & expectation
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Quick glance: Cardano gave a decisive multi-week breakout after breaching the $1.47 mark. From the looks of it, ADA still seems to have some steam left. Although a large part of the momentum would depend on Bitcoin and Ether’s momentum as well. In our previous analysis on ADA, we had predicted that ADA was poised for a huge move as it was continuously hovering around the key resistance level. The previous analysis had even clearly marked the target levels, and both the targets were filled today.
Market in the last 24hrs
The last 24 hours were a second consecutive day of double-digit gains for ADA as it shot up more than 11%. The volumes are still high suggesting the momentum is still pretty good.
Today’s Trend analysis
ADA is currently hovering around another key resistance level, where it has rebounded multiple times since May. This level at $1.85 is a key resistance level and we could expect some pullback.
However, if ADA decisively breaches this level, the next target would be at $2.30, which is another 25% move from current levels. By ‘decisively breaching,’ we are referring to large volumes.
Price volatility remained extremely high at approximately 12.57%, with the day's range between $1.67 — $1.88.
Price at the time of publishing: $1.8705
ADA’s market cap: $60.816 Billion
Volumes have remained high over the past 24 hours.
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The analysis is based on signals from 26 technical indicators, out of which 15 are moving averages and the remaining 11 are oscillators. These indicator values are calculated using 24-hour candles.
Note: Above analysis would hold true if we do not encounter a sudden jump in trade volume .
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Keep supporting:)
-Mudrex
Quick glance: Cardano gave a decisive multi-week breakout after breaching the $1.47 mark. From the looks of it, ADA still seems to have some steam left. Although a large part of the momentum would depend on Bitcoin and Ether’s momentum as well. In our previous analysis on ADA, we had predicted that ADA was poised for a huge move as it was continuously hovering around the key resistance level. The previous analysis had even clearly marked the target levels, and both the targets were filled today.
Market in the last 24hrs
The last 24 hours were a second consecutive day of double-digit gains for ADA as it shot up more than 11%. The volumes are still high suggesting the momentum is still pretty good.
Today’s Trend analysis
ADA is currently hovering around another key resistance level, where it has rebounded multiple times since May. This level at $1.85 is a key resistance level and we could expect some pullback.
However, if ADA decisively breaches this level, the next target would be at $2.30, which is another 25% move from current levels. By ‘decisively breaching,’ we are referring to large volumes.
Price volatility remained extremely high at approximately 12.57%, with the day's range between $1.67 — $1.88.
Price at the time of publishing: $1.8705
ADA’s market cap: $60.816 Billion
- Out of 11 Oscillator indicators, 8 are neutral, none are bearish and 3 are bullish.
- Out of 15 Moving average indicators, 1 is 'NEUTRAL', none are bearish and 14 are bullish.
- Indicator summary is giving a ‘STRONG BUY’ signal on ADAUSD .
Volumes have remained high over the past 24 hours.
----------------------------------------------------------------------------------------
The analysis is based on signals from 26 technical indicators, out of which 15 are moving averages and the remaining 11 are oscillators. These indicator values are calculated using 24-hour candles.
Note: Above analysis would hold true if we do not encounter a sudden jump in trade volume .
----------------------------------------------------------------------------------------
Keep supporting:)
-Mudrex
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