Cardano: is $0.55 the next target?News regarding the new Vasil fork, scheduled for September 22nd, continues to support the price of ADA. Although the coin started the week in red, moving down to the support line at $0.45, the rest of the week was in the green zone, where ADA managed to reach the resistance line at $0.50. The coin is ending the week clearly testing this level.
The RSI moved from the level of 45 up to 57, clearly indicating that the market is eyeing the overbought side, which might bring further support to the price of the coin. This might continue till the final implementation of the fork as of the end of September. Moving averages of 50 and 200 days are slowing down their convergence toward each other. There is still a long distance between two lines, in which sense, the golden cross continues to be on hold.
Vasil fork will certainly continue to support the price of the coin in the coming period. As ADA is finishing the week by testing the resistance line at $0.50, there is high probability for this line to be broken to the upside. Next resistance line for ADA stands at $0.55 which might be tested in the coming week. On the opposite side, there is some probability for the $0.45 support line to be tested one more time.
