$ADA Will hitt 0.90$ tonight:
Predicting whether ADA/USDT (Cardano) will hit $0.90 by tonight involves a bit of speculation, especially in the highly volatile cryptocurrency market. However, let's analyze the current technical indicators and market dynamics from the chart you provided:
1. Current Price Analysis:
The current price is $0.7677.
For ADA to reach $0.90, it would need to increase by approximately 17% from its current level.
2. Bullish Momentum:
The chart shows strong bullish momentum with a 24.67% increase in the last 24 hours.
The EMAs (7, 25, and 99) are aligned bullishly, indicating continued upward momentum.
3. Resistance Levels:
The next resistance is around the $0.7805 level (the recent 24-hour high). Breaking this resistance is crucial for further gains.
If ADA breaks above $0.7805 and sustains that level, the next major psychological resistance would be $0.80, followed by $0.85, and eventually targeting $0.90.
4. RSI Analysis:
The RSI (6) is at 78.63, indicating that ADA is in the overbought zone.
An overbought RSI could mean that a pullback or consolidation is likely before another upward move.
However, during strong uptrends, the RSI can stay overbought for extended periods, especially if buying pressure remains strong.
5. Volume and Market Sentiment:
The volume has been increasing, which is a positive sign of strong buyer interest.
If this buying momentum continues, it could push the price higher in a short period.
6. Factors to Consider for $0.90 Target:
Market News & Sentiment: If there are positive developments or news related to Cardano or the broader crypto market, this could act as a catalyst to push prices higher.
Bitcoin and Overall Market Movement: ADA's price is often influenced by Bitcoin and the general crypto market trend. If BTC rallies, altcoins like ADA could follow suit.
Short-Term Corrections: Given the high RSI, there’s a chance of a short-term correction before a continued upward move.