Cardano (ADA): only a few hours left before the rally?

Following the bullish movement it started on October 19, Cardano (ADA) has just reached the horizontal resistance of $0.30.

Will Cardano (ADA) manage to break this resistance on the first attempt? Should we instead expect a correction? Answers.

Cardano (ADA) goes green again

Technical analysis of ADA's weekly chart shows that the token has been trading above the $0.25 horizontal support zone since the beginning of the year.

Although it fell below this area in June, it created a long lower wick (green arrow) before validating it as support.

The weekly RSI also confirms the upward trend in Cardano price.

As a reminder, the relative strength index (RSI) is a momentum indicator that allows traders to determine whether a market is in overbought or oversold territory.