- ADA’s breakout above $0.6208 confirms bullish momentum backed by rising volume.
- RSI near 50 suggests neutral conditions, but a rise above 60 could spark stronger gains.
- Psychological resistance at $0.6500 may be tested soon if bullish momentum persists.
Cardano (ADA) has shown renewed bullish strength as buyers pushed the price to $0.6455 on April 21. The upward momentum followed a short period of consolidation, where the price dipped to $0.6060 before rebounding. Market sentiment turned bullish once ADA broke out of the narrow range, pushing higher with strong volume support.
The breakout came as trading activity surged, signaling increased investor interest in ADA. This rise has placed the asset in a strong position to retest key resistance levels. Consequently, ADA may soon challenge the psychological barrier near $0.6500 if bullish momentum continues to hold.
Key Support Zones Reinforce Bullish Case Ahead of Next Price Test
ADA found a solid base near $0.6060, where buying pressure increased significantly. This level served as the springboard for the recent rally. Besides, $0.6208 emerged as another strong support zone, once the breakout confirmed above it.
These areas now represent key safety nets if the price sees a pullback. Additionally, the current trading level at $0.6455 has begun acting as a near-term resistance. Hence, a move above this level could confirm the continuation of the uptrend.
If ADA surpasses $0.6455 with strong volume, the next likely resistance would be around $0.6500. This level could serve as a psychological barrier, often seen when prices approach whole numbers. Moreover, if momentum sustains, ADA may even revisit previous highs beyond this range, although those are not visible on the current 1D chart.
Technical Signals Indicate Strong Bullish Setup Developing
Volume increased by 50.32% during the breakout, reflecting growing participation. The Volume-to-Market Cap ratio, standing at 2.23%, highlights healthy trading activity. These metrics support a solid bullish foundation as ADA continues upward.
Significantly, the MACD line crossed above the signal line, forming a bullish crossover. This setup hints at a potential momentum shift in favor of buyers. Furthermore, the RSI is hovering around 49.94, near the neutral zone. While not yet overbought, any move above 50 could strengthen the upward bias. If the RSI climbs above 60, this would reinforce the bullish trend even further.
