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Here is an important analysis of the price action of $ADA (Cardano) in June!
Cardano (ADA) June Price Outlook
Is the rally in Cardano (ADA) strong enough to push the price higher?
The ADA/USD exchange rate has risen by 0.53% in the past 24 hours.
From the hourly chart, the ADA exchange rate is in the middle of a local channel with support at 0.4575 and resistance at 0.4648. However, it is worth noting that if ADA can successfully break through the overhead resistance, the accumulated momentum may push it towards the price of $0.47.
From a larger time frame perspective, we need to pay special attention to the key point of 0.4656. If ADA can close the candle near or above this level, then its uptrend is likely to continue and could quickly hit the $0.4750 to $0.48 range.
However, on the weekly chart, the situation is a little less clear. In this scenario, we should focus on whether the current candle can close above the previous week's high.
If it does, and the price closes above $0.4750, then Cardano's growth momentum could be stronger and it could even test the $0.50 level. Such a prediction remains valid until the end of June. Currently, ADA is trading at $0.4638.
