Este artículo también está disponible en español.
Cardano is showing renewed strength as bullish momentum builds, driving ADA closer to the $0.8119 resistance level. After steady accumulation, buyers are beginning to take control, pushing the price higher and reinforcing optimism in the market. This growing confidence suggests that ADA could be on the verge of a significant breakout, provided it can overcome key resistance zones.
With technical indicators turning positive and market sentiment improving, all eyes are on whether ADA can sustain its upward momentum. A decisive move past $0.8119 may pave the way for further gains, while failure to break through might invite renewed selling pressure. As the battle between bulls and bears intensifies, the coming sessions will be crucial in determining Cardano’s next move.
Technical Analysis: Can ADA Sustain Its Upside Trajectory?
Presently, Cardano is exhibiting strong bullish momentum as it steadily climbs toward the $0.8119 resistance level, a barrier crucial for its next major move. After facing a strong rebound at the $0.6822 support mark, buying pressure has increased, pushing ADA higher as market sentiment turns optimistic. but the sustainability of this uptrend depends on key technical factors.
Related Reading
It is worth noting that ADA’s price steadily rises toward the 100-day Simple Moving Average (SMA), a critical level that often acts as a dynamic resistance. A successful break above this indicator could reinforce positive sentiment and pave the way for extended gains.
Supporting this momentum, the Relative Strength Index (RSI) has recently crossed above the 50% threshold, indicating a shift from bearish to bullish market conditions. This is a significant development, as an RSI above 50% typically suggests that buying pressure outweighs selling pressure, triggering further upside potential.
Additionally, ADA’s trading volume has surged by over 10% in the last 24 hours, indicating growing market activity and increased investor interest. This uptick in volume suggests that traders are becoming more engaged, possibly fueling price movements.
As long as the RSI remains on an upward trajectory and buying pressure continues to rise alongside volume, it might strengthen ADA’s bullish outlook, increasing the likelihood of a breakout above key resistance levels.
What’s Next For Cardano? Predictions Beyond $0.8119
As Cardano continues its upward trajectory, breaking through the $0.8119 resistance level has become a focal point. But what lies beyond this key milestone?
Related Reading
If buyers maintain control and push the price above this key barrier, ADA is likely to see an extended rally toward $0.8306 and $0.9077 in the near term. A decisive move above these levels can strengthen upward performances, opening the door for a test of $1.2630, a psychological milestone.
However, if Cardano struggles to surpass $0.8119, it may enter a consolidation phase or experience a pullback, with $0.6822 as the next closest support level. The bulls must hold this zone to prevent further bearish pressure. Furthermore, a break below this level could signal an extended correction, exposing ADA to deeper losses.
Featured image from Medium, chart from Tradingview.com
Read the full article here