Cardano's price ($ADA) has seen a significant recovery, rising to $0.735 after dropping below $0.60.
General Information on ADA Price
According to reports, ADA's price is currently marked by a strong bullish momentum despite some market fluctuations. It is positioned above the 9-day and 21-day moving averages. The RSI has reached 71.07, confirming bullish sentiment.
Hourly Chart of ADA: Signs of Correction
On the hourly chart, the situation appears less optimistic: ADA is facing resistance around the $0.74 area and is currently correcting. The RSI showed a neutral value of 45.34, indicating diminished bullish activity. The price is slightly below the moving averages, which could lead to a dip towards the $0.7203 support level.
Price Prediction for Cardano
Cardano is exhibiting positive trends, but short-term charts show early signs of exhaustion. If the $0.7203 level holds firm, consolidation may occur before another attempt to reach the psychological $1 threshold. A breakout above $0.75 could signal further upward movement, targeting $0.8475.
Overall, Cardano demonstrates confident signs of recovery, although short-term charts caution for caution. Future movements will depend on the ability to hold above key support levels.
