The post Cardano Price Eyes Impulse Move After Bearish RSI Divergence Was Invalidated, Here’s The Target appeared on BitcoinEthereumNews.com.

Este artículo también está disponible en español. The Cardano price is currently eyeing an impulsive move to the upside following the invalidation of a bearish Relative Strength Index (RSI) divergence. In his analysis, crypto analyst Melika Trader revealed how high ADA could rally following this bullish channel formation.  Cardano Price Eyes Impulsive Move To The Upside In a TradingView post, Melika Trader predicted that the Cardano price could rally to between $0.90 and $0.94 as it eyes an impulsive move to the upside. The analyst observed that ADA recently experienced a sharp rally, breaking through resistance levels and establishing a new range. This could pave the way for the rally to these price targets.  Related Reading Melika Trader further noted that a deceptive bearish RSI divergence was invalidated as the Cardano price continued its uptrend, confirming bullish momentum. Meanwhile, the analyst remarked that the ADA price is currently consolidating near the lower boundary of the parallel channel, suggesting a potential bounce from its current price level.  ADA set to grow to $0.90 | Source; Melika on Tradingview In line with this, he stated that if the Cardano price respects the channel structure, then ADA could aim for the $0.90 and $0.94 range as the next resistance. Crypto analyst Ali Martinez also provided a bullish outlook for ADA, stating that the crypto looks ready to rebound as the TD Sequential indicator has flashed a buy signal on the 4-hour chart.  Meanwhile, crypto analyst Paul stated that the nice Fibonacci count is working for the Cardano price with .618 higher lows. The analyst’s accompanying chart showed that ADA could reclaim the psychological $1 price level and rally to as high as $2.2 on the Wave 3 impulsive move to the upside. The chart also showed that ADA could then correct to as…

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Filed under: News - @ February 17, 2025 6:21 pm