Is a Relief Rally Next for ADA? Three Key Things to Watch (Cardano Price Analysis)


With support found, ADA is giving some signs of hope a reversal is possible.

Key Support levels: $0.25

Key Resistance levels: $0.28

1. Price Holds Above Key Support

Cardano managed to consolidate above the support at $0.25 for almost a month. If buyers continue to show interest at this level, then the price could attempt to escape and challenge the resistance at $0.28.

Chart by TradingView.

2. Is a Relief Rally Possible?

The price action indicates a decisive move is likely approaching. If bulls manage to hold ADA above the key support, then a rally would become likely. This scenario depends largely on the overall market and is contingent on BTC holding above its support at $25k.

Chart by TradingView.

3. Bullish Daily MACD

Surprisingly, the daily MACD for Cardano turned bullish in late August and has managed to defend this trend since. This is another reason why buyers appear to have control of the price at this time.

Chart by TradingView.


The bias for ADA is neutral.

Short-Term Prediction for ADA Price

While it is too early to say where ADA will go next, as long the price holds above 25 cents, this cryptocurrency has a good chance at a relief rally.


Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO50 code to receive up to $7,000 on your deposits.

Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.

#Relief #Rally #ADA #Key #Watch #Cardano #Price #Analysis