- Cardano rebounds from key support, breaking resistance to signal bullish intent
- RSI trends upward while remaining neutral, hinting at room for further growth
- Bullish MACD crossover suggests growing momentum and possible upside breakout
Cardano (ADA) has once again caught the attention of investors after triggering a key risk indicator. With the market displaying signs of renewed strength, traders are eyeing this development closely. The asset’s price action has turned upward after a recent slump, and technical indicators are starting to lean bullish.
As sentiment gradually shifts, many are beginning to wonder if now might be a strategic entry point for ADA. This article examines the recent price behavior, technical signals, and key levels to watch before making any trading decisions.
Price Movement Suggests Strengthening Momentum
ADA is currently trading at $0.6206, marking a solid 3.03% daily gain. This climb follows a recovery from a minor pullback earlier in the session.
Importantly, the coin bounced from $0.6018, a critical support level that has held firm. This area had already proven its strength when it absorbed previous downward pressure. Shortly after, another small dip was rejected at $0.6050, reinforcing bullish sentiment.
The ability of ADA to reclaim ground and close higher suggests a growing appetite from buyers. At the same time, resistance at $0.615 had previously capped gains but was broken late in the session. The price touched a new high of $0.620, now acting as a potential short-term ceiling. Should ADA push past this level, the next leg up could develop quickly.
Technical Indicators Point Toward Accumulation Phase
Besides the solid price action, Cardano’s technical indicators are showing early signs of strength. The Relative Strength Index (RSI) stands at 44.95 below the neutral 50 mark but is trending higher. This reading indicates the market is not yet overbought, leaving room for further upside without immediate risk of reversal.
More significantly, the MACD is offering a bullish crossover. The MACD line has moved above the signal line, and green bars are appearing on the histogram. This crossover often signals growing momentum and can serve as a precursor to further price increases.
