Cardano Shows Promising Signs of Continued Growth
Cardano (ADA) has been a notable performer in the recent cryptocurrency bull run, and its current market trends suggest a potential continuation of this upward momentum.
ADA/USDT Daily Chart Analysis
The ADA/USDT daily chart reveals an intriguing price action. After being rejected at the $1.2 resistance level, the asset experienced a gradual decline. However, a swift reversal occurred at the $0.75 support level, resulting in a breakout above the bearish trendline. As a result, ADA is currently rallying toward the $1.2 resistance level, and a successful breakout could potentially lead to a new record high.
ADA/BTC Daily Chart Analysis
The ADA/BTC price action on the daily timeframe exhibits a similar pattern to the USDT paired chart. The market found support at the 900 SAT level and is now rising toward the 1,500 SAT resistance zone. With the Relative Strength Index (RSI) indicating bullish momentum, it is likely that the market will reach the mentioned zone. This could result in ADA outperforming Bitcoin (BTC) in the upcoming weeks.
Key Takeaways
* Cardano (ADA) is showing promising signs of continued growth after the recent bull run. * The ADA/USDT daily chart indicates a potential breakout above the $1.2 resistance level, which could lead to a new record high. * The ADA/BTC daily chart suggests that ADA may outperform BTC in the upcoming weeks, with the market rising toward the 1,500 SAT resistance zone.
Conclusion
Cardano’s current market trends suggest a potential continuation of its upward momentum. With the ADA/USDT and ADA/BTC daily charts indicating bullish price action, investors may want to keep a close eye on this cryptocurrency in the coming weeks.
Source: Cryptopotato.com
The post Cardano Price Prediction: Will ADA Break $1.2 Resistance? appeared first on CoinBuzzFeed.