$ADA

Cardano (ADA) Price Path to $1.24 if Support Levels Hold

Cardano (ADA) price has gained 22% over the past seven days, with trading volume reaching $2 billion in the last 24 hours. This strong performance has been supported by bullish technical indicators, including a golden cross and a sharp rise in its ADX indicator, reflecting strong momentum in the trend.

However, the recent pullback in ADA price has raised concerns about whether the uptrend can be sustained. With the $1.04 support level becoming crucial, ADA’s ability to hold above it will determine whether the bullish momentum continues or a potential reversal forms.

ADA’s ADX Indicator Confirms Strong Uptrend

Between January 1 and January 4, Cardano saw a significant price increase from $0.85 to $1.06, accompanied by a sharp rise in its ADX indicator from 11.8 to 50.3.

The ADX indicator, or Average Directional Index, measures the strength of a trend on a scale of 0 to 100. Values ​​above 25 indicate a strong trend, while readings below 20 indicate weak or no trend momentum. ADA’s ADX indicator at 50.3 highlights a very strong trend, reinforcing the bullish momentum seen during the price rally.