ADA Surges 15%: Here’s the Next Target (Cardano Price Analysis)

• ADA surged 15% off critical support and is now targeting $0.35 and $0.38 resistance levels
• The explosive buying volume reversed the downtrend abruptly, showing bullish momentum
• If buyers break the resistance at 35 cents, this cryptocurrency could target 38 cents next

ADA Surges 15% Off Critical Support

Cardano (ADA) recently found good support at $0.30 from where the bulls managed to turn the momentum in their favor. The price quickly rallied to hit the resistance at $0.35, which has turned the chart bullish and may send ADA higher later this week.

Trading Volume

The explosive buying volume reversed the downtrend abruptly, which is a strong indication of bullish momentum for Cardano.

Relative Strength Index (RSI)

The daily RSI touched the mid-level of 50 points and buyers need to keep up with their pressure if they wish to maintain their gains.

Moving Average Convergence Divergence (MACD)

The daily MACD completed a bullish cross yesterday, which signals a significant change in momentum that could potentially lead to a sustained reversal for ADA.

Price Prediction for ADA

With this latest bounce off support, ADA has turned bullish based on its momentum indicators. If buyers break through the resistance at $0.35, this cryptocurrency could potentially target $0.38 next