This article is also available in Spanish. The Cardano cryptocurrency (ADA) has made a strong comeback and bulls have stepped in to reverse the recent downturn and spark a new rally. After a brief period of downward pressure, the cryptocurrency is gaining momentum again, sparking renewed optimism among traders and investors.
amid this momentum, #Cardano is showing signs of further growth and continues to climb towards the $0.4233 mark. The question is whether the bulls will be able to sustain this surge and push #ADA to new highs.
This article analyzes the recent price movements of ADA with a focus on how the bulls reversed the pullback and triggered a new rally. The article confirms the current bullish trend, evaluates key support and resistance levels, and looks at the potential for sustained upside in the short term.
On the four-hour chart, Cardano has turned bullish and is currently holding above the 100-day simple moving average (SMA), showing several green candles. As long as prices remain above this level, the bulls are likely to continue to lead, and if the uptrend continues, there is potential for further gains.
Analysis of the four-hour Relative Strength Index (RSI) shows a marked increase: it has risen to 63% after previously falling to 53%. This rise reflects the strengthening bullish momentum, which indicates that the market is building up buying pressure. The current levels are still below the overbought zone, but the RSI's upward shift suggests that demand is picking up, which could pave the way for further upside. A successful breakout above this SMA could strengthen the optimistic trend, boost investor confidence and attract more buyers; if ADA breaks this resistance line, it could lead to a change in market sentiment and further upside momentum. Overall, it indicates that the buying pressure exceeds the selling pressure, which reflects the strong momentum of traders and the growing #optimism about the price potential of ADA.
On the other hand, the resistance level at $0.4233 is very important, and a successful break of this point could mean a stronger uptrend and more buying interest; if ADA breaks above $ 0.
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