ADA Chart Analysis ))))))))))))))
ADA’s 22% price increase last week pushed its price above the 20-day exponential moving average (EMA). This measures an asset’s average price over the last 20 trading days, and trading above this significant moving average indicates an increase in buying pressure.
ADA is currently moving towards the 50-day simple moving average (SMA), which is a bullish signal. If ADA successfully surpasses this, it will indicate that the recent average price is higher than the long-term average, confirming the potential for further price increases. In such a case, ADA could trade above $0.43. However, if a decline occurs, ADA’s price could drop to the $0.38 level.
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