ADA found good support, but can it return on an uptrend?
Key Support levels: $0.65
Key Resistance levels: $0.90
1. ADA Holds Above $0.65
With clear support established at 65 cents, ADA has a good shot at challenging the key resistance at 90 cents next. So far, buyers were a bit shy and did not manage to take ADA beyond 80 cents. Nevertheless, they can try again later as long as the key support holds.
2. Momentum Stalls
After the bounce on the key support, buyers rushed to ADA, but their enthusiasm was short-lived. They will need to break the 90-cent resistance to confirm that the downtrend is over. Until that happens, sellers could still return at any moment. For this reason, this is a critical time for Cardano.
3. Daily RSI Shows the Bottom is In
Based on the daily RSI, Cardano has already bottomed since this indicators is making higher lows. To confirm this reversal, this cryptocurrency will need to break the key resistance and reclaim the psychological level at $1. Once there, bulls will be back in charge of the price action.
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