$ADA Cardano has been making steady gains, currently trading at $0.9977 with a 1.50% increase over the past 24 hours. The token recently tested the $1.0419 resistance level but saw a pullback, finding support at $0.9799.
Key moving averages indicate mixed signals:
• The 7-hour MA at $0.9953 is acting as immediate support, suggesting bullish momentum.
• The 25-hour MA at $1.0079 is a key resistance level to watch for a potential breakout.
• The 99-hour MA at $0.9865 is a strong support level, providing a safety net for short-term traders.
Volume analysis shows sustained interest with 24-hour trading volumes reaching $299.50M for ADA and $302.46M for USDT pairs, highlighting robust activity in the market.
Traders should monitor the $1 psychological barrier closely. A breakout above this level, accompanied by high volume, could pave the way for a retest of the $1.0419 resistance. Conversely, a sustained dip below $0.9865 may signal further consolidation.
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