Cardano (ADA) is rising along with the overall cryptocurrency market, trading at $1.06 on January 4, 2025. The weekly growth of the token was 22.6%.
The price increase was accompanied by rising volume, which is a reliable sign of increasing buyer pressure.
Currently, the RSI is at 59.46, indicating that ADA is in bullish territory and the token still has potential for growth.
Key support and resistance levels will be crucial for ADA's future dynamics. On the downside, the $0.96 level is a strong support level from which the price rebounded before the recent jump. If bearish pressure increases, the $0.88 and $0.80 levels may be tested during a decline.
On the upside, the $1.10 mark is immediate resistance, followed by a stronger barrier at $1.20, which may limit further growth. If ADA breaks through it, the next resistance zone may be found around $1.30.