Recent analysis of Cardano (ADA) suggests strong signs of an uptrend. The support at 64 cents lays a foundation for further growth.
ADA Secured 64 Cents as Support
ADA remains comfortably above the 64 cents support level, giving buyers the upper hand. Recent price actions signal the establishment of an uptrend, with a target of 90 cents, which is less than 20% away from the current price.
Momentum Shifts Bullish
The Cardano market is also showing a shift towards bullish momentum. This is observable on multiple timeframes including the 3-day MACD, and potentially the weekly timeframe if buyers can maintain pressure. This atmosphere is encouraging, indicating that the potential low might have been around 51 cents.
Buyers Return to the Market
Another clear signal of shifting momentum is evident in the trading volume, where buyers achieved a higher high. This indicates confidence that ADA is ready to move higher, with key targets set at 90 cents and 1 dollar. Reaching 90 cents is critical for securing a higher high.
In conclusion, the current market conditions for Cardano suggest a safe path for growth that could lead to new price levels. Monitoring buyer behavior will be essential in assessing future price developments.
