ADA price rallied towards key resistance after bouncing from support.
- Key Support Levels: $0.55, $0.50
- Key Resistances: $0.64, $0.75
After consolidating above the critical support at $0.55 for a few days, ADA has finally moved towards resistance at $0.64. The price touched this level before sellers took action and pushed the cryptocurrency into a pullback. An attempt by the bulls to make another short-term push is expected.
Volume: Volume exploded in tandem with price and if this momentum sustains, ADA could break above key resistance.
RSI: The daily RSI is moving back above 50 and if it can make a higher high, momentum will tilt in favor of the bulls.
MACD: The daily MACD continues to rise and this latest push higher has brought its histogram back to the upside.
The bias towards ADA is bullish. To validate this outlook, ADA must break above $0.64 and hold there.
Short term prediction
It looks like the ADA bulls are likely to make another test of the critical resistance at $0.64. If the breakout is successful, then the price will have space to spike towards $0.75.