ADA’s bullish surge shows strength, but overbought RSI hints at potential correction.
Cardano’s support at $0.40 and $0.3706 could anchor prices if selling pressure emerges.
Breaking $0.43 resistance may pave the way for ADA to test higher price targets.
Cardano’s price is surging, raising back-and-forth on the sustainability of this rally. The increase in ADA’s value has also reignited discussions on its long-term prospects and leadership under Charles Hoskinson. This sharp price movement has fueled optimism watching for signs of whether this trend is truly robust or a fleeting spike.
ADA’s price rose from $0.3706 to $0.4257, a 14.86% increase, just in a day. The bullish shift was also accompanied by a 113.75% rise in trading volume, reaching nearly $997.35 million.
Such an uptick in volume suggests heightened buying interest, potentially lending stability to ADA’s current levels if demand holds. However, the surge also brings ADA closer to overbought conditions, which could trigger a temporary correction.
Key Support Levels to Watch
Several support levels are critical in the current trend. The psychological $0.40 level has provided support, …
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