- Cardano (ADA) maintains upward bias with strong support around $0.7150 amid volatility.
- Technical indicators suggest ADA has more room for growth before reaching overbought levels.
- ADA faces tough resistance at $0.7300, but bullish momentum could trigger a breakout.
Cardano (ADA) showed encouraging signs on April 26, as its price chart reflected a cautious but positive trend. Despite a volatile intraday session filled with ups and downs, ADA managed to secure a slight daily gain.
Investors closely watching ADA found reasons for optimism, especially with technical indicators leaning toward a bullish bias. As April 27 unfolds, traders are analyzing key levels to predict ADA’s next possible move.
Choppy Trading Action with a Bullish Tilt
ADA’s current price sits at $0.7219, reflecting a minor 0.15% increase in the past 24 hours. The chart reveals a somewhat erratic trading pattern, characterized by multiple swings within a narrow range.
However, the overall direction has been upward, giving bulls a slight advantage. Besides, the price found solid ground around the $0.7150 mark, where repeated bounces indicated strong buying pressure.
Further down, $0.7100 emerged as another crucial support zone during deeper pullbacks. Hence, these levels now serve as the critical safety nets for ADA in the short term.
On the upside, ADA faces stiff resistance at $0.7300. Several attempts to breach this level met with selling pressure, causing pullbacks. Moreover, minor resistance appeared near $0.7250, briefly slowing ADA’s upward momentum.
Technical Indicators Signal Room for Growth
The technical indicators present an encouraging story for ADA bulls. The Moving Average Convergence Divergence (MACD) has already shown a bullish crossover. The blue MACD line moved above the orange signal line, a classic signal of strengthening momentum. Moreover, the histogram continues to print positive bars, underlining buyer dominance.
Besides MACD, the Relative Strength Index (RSI) stands at 61.15, indicating moderate bullish strength. It remains well below the overbought threshold of 70, offering ADA more room to extend gains. Consequently, if the bullish momentum persists, traders could see ADA challenge higher resistance levels soon.
