Technical analysis of ADA

Cardano (ADA) is getting closer to the $1 mark after a fantastic week with an increase of up to 48%. This good news has rekindled hope for the ADA community after patiently waiting for a strong price increase since the beginning of the year.

Currently, the price of ADA has established a solid support level around the $0.8 mark and is challenging the resistance of $0.9 at the time of writing. If it successfully breaks through, ADA could soar to $1 and attract sellers looking to take profits.

The short-term outlook for ADA remains optimistic, especially as buyers have maintained an advantage in recent trading sessions. The current ATH of ADA is $3.1, indicating that market participants still have plenty of room to speculate on this coin.