Cardano (ADA) is experiencing a resurgence as its price trajectory trends upwards. The question on everyone’s mind is, how far will it rise?
The key support level for ADA currently sits at $0.64, while critical resistance levels are pegged at $0.90 and $1.1. The price of ADA has comfortably secured its position above the 64 cents support, indicating that buyers are now in control.
The recent price movements suggest a clear uptrend for ADA, with a target set at $0.90, just under 20% from its current position at the time of writing.
Aligned with the broader market, Cardano’s momentum is also turning bullish, as evidenced on multiple timeframes, including the 3-day MACD. If buyers maintain their current pressure, this bullish trend may soon be reflected on the weekly timeframe, indicating that ADA has potentially bottomed out at 51 cents.
Another clear indication of a momentum shift is evidenced in the volume profile. Buyers have recently made a higher high, signaling increased confidence that ADA is poised for further growth. The key targets remain at $0.90 and $1. It is crucial for ADA to reach these targets and secure a higher high for sustained growth.
