ADA continues to show strength despite an uneventful weekend.
Key Support levels: $0.35
Key Resistance levels: $0.41
1. ADA’s Rally May Resume
After a brief pause, ADA appears keen to resume its uptrend and test the key resistance at 41 cents. The support at 35 cents held well and may not be revisited any time soon.
2. Key Resistance Level Awaits
Even if this cryptocurrency continues up, the resistance at 41 cents is a difficult level to break and may prompt sellers to return. This is a pivotal point in the current price action and will decide where Cardano goes next.
3. Bullish Momentum Intact
The weekly MACD shows that buyers are still very much in control of the price action, with the histogram making higher highs. As long as this continues, bulls have the upper hand.
The bias for ADA is bullish.
Short-Term Prediction for ADA Price
A test of the resistance at 41 cents appears likely this week. If ADA manages to break it, then the next key target will be found at 45 cents.
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Cryptocurrency charts by TradingView.