ADA is currently challenging the critical resistance at $1.20 and has a good chance of moving higher.

• Major support levels: $1.1
• Major Resistances: $1.2, $1.3, $1.5

Just like the general sentiment over the past few days, ADA had a good week of growth (11 percent ROI according to CoinGecko) and broke the $1 – $1.10 resistance area.

The $1.2 zone is the next resistance to watch. If the price breaks out and flips $1.2 to support, the next target is $1.3 and higher to $1.5 if momentum lasts.

Daily ADA/USDT Chart | Source: TradingView

Technical indicators

Loudness: There was a decent amount of loudness on the last hit, but nothing out of the ordinary. We expect volume to increase as prices increase.

RSI: The daily RSI has not yet made a higher high but has made a higher low. The RSI needs to surpass 65 to set a higher high, which looks feasible next week. The RSI is currently at 54.

MACD: The daily MACD remains bullish with moving averages widening and histogram momentum bars higher. This favors the continuation of the upward movement.

Daily ADA/USDT Chart | Source: TradingView

Perspectives

The current trend is up.

Short term prediction

ADA price continues to move higher at a steady rate, in line with Bitcoin’s bullish momentum. If this continues, ADA can easily reach $1.3 in the coming days.

Disclaimer: This article is for informational purposes only, not investment advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions.

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