Crypto Express

07/11 11:26

ADA price prediction bullish in the short term?

ADA price prediction bullish in the short term?

Examining the 1-day chart, AMBCrypto found that a bullish structure was in place in this timeframe. The price formed higher lows and higher highs over the past two weeks. At the time of writing, Cardano had climbed past $0.62 – The 50% retracement level. The RSI crossed above the neutral-50 mark too.

This indicated a momentum swing from bearish to bullish. Similarly, the OBV also crept higher. Its uptrend over the past two weeks indicated steady demand, one that might be a bullish sign that ADA could climb higher.

To the north, the 78.6% retracement level at $0.684 emerged as a crucial resistance. This level was enveloped by the fair value gap (white box) from June, marking it as a key supply zone. A Cardano rally beyond $0.68-$0.7 would be a strong sign of bullish conviction.

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