ADA’s price has found good support at $0.85 and now appears ready to enter a relief rally.
Main levels of support: 0.85 USD
Key Resistance Levels: $1, $1.1
ADA fell to critical support at $0.85, and now the price is eager to rally towards resistance at $1. The cryptocurrency is unlikely to top, but at least market participants may soon see a rally towards it.
Technical Indicators
Trading Volume: The volume is picking up after this most recent drop, and buyers seem to have returned to ADA.
IRS: The daily RSI almost reached oversold conditions today before the price turned around. The RSI is now rising rapidly.
MACD: The daily MACD remains bearish, but if the bullish momentum intensifies, it could lead to a positive crossover on the moving averages. That would turn the current price action around.
bias
The current bias is neutral. Indicators suggest some uptrend, but it’s a bit early to be confident.
Short-Term Prediction for ADA Price
It is very important to see ADA finding support as that confirms the price is unlikely to fall much lower at this time. On the contrary, a relief rally can take ADA back to the key resistance at $1.
