- Cardano price is trading on a bullish note, as the price reaches near all-time high of $1.70, which is acting as a minor hurdle
- The coin currently maintaining itself above major moving averages of 20,50,100 and 200-DMA, with good volume traction
- The pair of ADA/BTC is trading positively at 0.00002956 BTC with an intraday gain of +4.15%
Cardano’s price is now ready for another massive rally. If ADA price breakout from the hurdle of $1.70, then a bullish momentum is observed. Meanwhile, excellent volume traction is over the monthly chart, followed, and volume jumped above the average line. Likewise, strong momentum seems to be generating, and we can see levels of $1,85 to $1.98 in the short term. Meanwhile, the coin finds support at $1.25 and $1.00.Similarly, resistance on the higher side is $1.90 and $2.00. The overall trend looks extremely bullish as it sustains above all moving averages of 20, 50, 100, and 200-day. Since all technical parameters favor bulls, we can see good returns in the short term.
Cardano Looks Ready For Strong Bullish Momentum
Over the 4 hours, Cardano looks ready to showcase strong bullish momentum after the breakout of $1.70. ADA is currently trading at the price levels of $1.68 with an increment of +2.97% in the last 24-hour; similarly, the volume traded in today’s trading session jumped nearly +10.12%, standing at $9,347,092,196. Targets of $1.80 and $1.95 seem to be delivered in the short term.
Relative Strength Index (BULLISH) indicates bullish momentum while trading at 65962. However, the coin is continuously trading in the overbought zone, and another bullish momentum is going to experience.
Moving Average Convergence Divergence (BULLISH) currently indicates a bullish trend on the daily chart. ADA is trading with the significance of the buyer’s signal line (green) over the seller’s line (red) with no sign of weakness.
Support levels: $1.25 and $1.00.
Resistance levels: $1.70