- ADA surges by 51.36% to $1.00, with a 1,562.13% trading volume increase, signaling strong market activity and renewed bullish momentum.
- The Golden Cross (MA50 above MA200) confirms a long term uptrend, with key support at $0.935 and resistance at $1.05-$1.10.
- RSI at 63.30 suggests strong buying pressure, but a break above $1.05 could push ADA toward $1.15-$1.30, while a drop risks $0.80.
Cardano’s ADA has regained bullish momentum after breaking above $1 for the first time in over a month. A 70% surge followed six weeks of a downtrend, coinciding with the latest Crypto Strategic Reserve announcement. However, resistance levels and potential corrections remain key factors in ADA’s next move.
ADA Price Overview and Market Performance
At press time, ADA was trading at $1.00, a 51.36% increase in the last 24 hours. Its market cap is at $35.51 billion, while 24 hour trading volume has surged by 1,562.13% to $9.7 billion. ADA’s fully diluted valuation (FDV) is estimated at $45.38 billion, with a circulating supply of 35.21 billion ADA.
Recent price action shows ADA reaching a high of $1.1747 before declining to a low of $0.9860. The 10.63% drop from its daily opening price suggests profit taking after a strong rally. Despite this, bullish sentiment is evident, with indicators showing continued buying pressure.
Technical Indicators and Market Trends
The RSI is at 63.30, showing strong buying pressure. However, RSI values above 70 indicate overbought conditions, which could lead to corrections. The MACD also shows a bullish trend.
The MACD line is above the signal line, with an increasing histogram confirming momentum. ADA’s price is above both the 50 day moving average of $0.75 and the 200 day moving average of $0.935.
The presence of a Golden Cross, where the MA50 crosses above the MA200, historically shows a long term uptrend. If ADA maintains its position above these levels, further gains are possible.
Support, Resistance, and Future Price Predictions
ADA has resistance between $1.05 and $1.10. A break above this zone could push prices toward $1.15 to $1.30. However, failure to sustain gains may lead to a pullback. If ADA drops below its key support at $0.935, further declines toward $0.80 to $0.85 are possible.
A bullish scenario sees ADA surpassing $1.05, attracting more buyers and targeting $1.15 or higher. On the bearish side, a fall below $0.935 could lead to selling pressure, a decline toward $0.75 or lower.
