Cardano's increase reached double digits this week, and its price faces key resistance
Bitget2024/02/15 11:29
Cardano has shown an upward trend this week, with a price increase reaching double digits. Key support level: $0.46, key resistance level: $0.60. ADA began its continuous rise at the support level of 46 cents and quickly approached the resistance level of 60 cents. If the bulls break through this level, ADA could reach new highs this year. Momentum indicators show bullish signals; within a three-day time frame, RSI has exceeded 60 points. This puts ADA on the bullish side and currently it is most likely that the bullish trend will continue. As bulls control price action, trading volume shows clear peaks. As long as this trend continues, prices will have to follow similar trends.
However, to break through the resistance of 60 cents, buyers will need to demonstrate more strength like they did in mid-December.The current bias for ADA is bullish.In short term ,ADA's price is heading towards a resistance point of 60 cents.Once there ,ADA would have to decide whether to continue rising or enter into correction.At time of publication,buyers are dominant.
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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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