This is the Level ADA Bulls Need to Break to Reverse the Momentum (Cardano Price Analysis)

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Car­dano has made a high­er low in the past few days com­pared to last week, which could encour­age bulls to take over the price action in the near term.

Key Sup­port lev­els: $0.30, $0.28

Key Resis­tance lev­els: $0.34, $0.38

Even though the sell­ers tried to push ADA’s price low­er, they failed to break below the pre­vi­ous low. For this rea­son, buy­ers could get back on the offen­sive and attempt to take the price to the key resis­tance at $0.34. The cur­rent sup­port lev­els remain at $0.28 and $0.30.

ADAUSDT_2022-11-29_18-43-54
Chart by TradingView

Technical Indicators

Trad­ing Vol­ume: The vol­ume remains low and shows bears have become exhaust­ed. This could be the open­ing the bulls were wait­ing for.

RSI: The dai­ly RSI is mak­ing high­er lows, sim­i­lar to the price. This is bullish.

MACD: The dai­ly MACD did a bull­ish cross over the week­end, and since then, the momen­tum is lean­ing in favor of the buyers.

ADAUSDT_2022-11-29_18-44-12
Chart by TradingView

Bias

The bias for ADA is neutral.

Short-Term Prediction for ADA Price

ADA has man­aged to stop the down­trend, and now the indi­ca­tors give hope of a pos­si­ble ral­ly toward the key resis­tance at $0.34. If ADA man­ages to break above this resis­tance, then the price action will turn bull­ish, and buy­ers will tar­get $0.38 next.

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Dis­claimer: Infor­ma­tion found on Cryp­toPota­to is those of writ­ers quot­ed. It does not rep­re­sent the opin­ions of Cryp­toPota­to on whether to buy, sell, or hold any invest­ments. You are advised to con­duct your own research before mak­ing any invest­ment deci­sions. Use pro­vid­ed infor­ma­tion at your own risk. See Dis­claimer for more information.

Cryp­tocur­ren­cy charts by TradingView. 

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