ADA Up 47% Weekly! How High Can It Go? (Cardano Price Analysis)
Cardano continues to perform despite yesterday’s pullback.
Key Support levels: $0.46
Key Resistance levels: $0.60, $0.82
1. Momentum Returns
With buyers back in control, ADA appears ready to break the current resistance at 60 cents. Yesterday’s pullback was shallow and quickly absorbed by buyers, which continue to dominate.
2. Buy Volume Explodes
Last week’s buy volume was the highest it has ever been since 2021. Another week like that, and ADA could quickly see itself approaching the next target at 82 cents.
3. Expanding MACD
The daily MACD is in a clear bullish trend, and continuation appears most likely. ADA wants to move higher, but it has to break the key resistance first.
Bias
The bias for ADA is bullish.
Short-Term Prediction for ADA Price
A breakout appears likely, considering the current momentum. If successful, ADA can quickly move to 82 cents next.
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Filed under: Bitcoin - @ December 12, 2023 10:24 am