Cardano (ADA) Approaches Key Resistance
Cardano (ADA) has been slow-moving, but its recent upswing above $0.81 hints at a potential breakout. Following BNB’s recent rally, ADA could aim for $1, but challenges remain.
Key Technical Levels & Trends:
📌 Resistance at $1.2 – ADA faced rejection here, triggering a descending parallel channel.
📌 Current Range – Trading between the 50-day & 200-day MAs, keeping bullish hopes alive.
📌 RSI & Ichimoku Cloud Concern – RSI shows bearish divergence, while Ichimoku’s +Di failed to confirm a bullish crossover.
Can ADA Break Above $1?
📈 Bullish Path: If ADA sustains momentum above $0.85, a move toward $1 is possible.
📉 Bearish Risk: Weak buying volume & market hesitation could lead to another rejection at $0.85.
For ADA to truly break out, stronger market sentiment and higher buying volume are needed. Will February be the month ADA finally crosses $1?
Key Technical Levels & Trends:
📌 Resistance at $1.2 – ADA faced rejection here, triggering a descending parallel channel.
📌 Current Range – Trading between the 50-day & 200-day MAs, keeping bullish hopes alive.
📌 RSI & Ichimoku Cloud Concern – RSI shows bearish divergence, while Ichimoku’s +Di failed to confirm a bullish crossover.
Can ADA Break Above $1?
📈 Bullish Path: If ADA sustains momentum above $0.85, a move toward $1 is possible.
📉 Bearish Risk: Weak buying volume & market hesitation could lead to another rejection at $0.85.
For ADA to truly break out, stronger market sentiment and higher buying volume are needed. Will February be the month ADA finally crosses $1?
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.