Cardano (ADA) price continues to recover by 6% and trades around $0.75 at the time of writing on Tuesday after retesting its key support level the previous week.
Cardano price continues to recover slightly on Tuesday after a rebound of almost 5% the previous day. Crypto asset manager Grayscale has filed for a Cardano ETF with the New York Stock Exchange on Monday. The technical outlook and on-chain data suggest a sustained price recovery is likely. Cardano price continues to recover by 6% and trades around $0.75 at the time of writing on Tuesday after retesting its key support level the previous week.
At the time of writing on Tuesday, it continues to recover by 6%, breaking above its weekly resistance at $0.74. If ADA breaks and closes above its $0.74 weekly resistance, it could extend the recovery to retest its high of $0.98. The Relative Strength Index on the daily chart reads 38, bouncing off from its oversold level of 30 on Sunday, indicating a mild rise in bullish momentum. However, the RSI must trade above its neutral level of 50 for the bullish momentum to be sustained.
Cryptocurrencies Technical Analysis
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Cardano (ADA) Bulls Hold Line: Can ADA Price Break $1 Again?Cardano finds crucial bull support - is ADA about to outperform big time?
Read more »
Cardano (ADA) Price Rally: Three Factors Fueling the SurgeCardano (ADA) is experiencing a notable price surge, driven by three key factors within its ecosystem.
Read more »
Cardano (ADA) Price Rebounds to $1, But Can It Last?Cardano (ADA) needs to sustain momentum above $1 going forward
Read more »
Cardano Whales Fuel Bullish Sentiment, ADA Price Surges Beyond $1Cardano (ADA) has witnessed a significant price surge, reclaiming the $1 mark and pushing beyond it. Large-scale purchases by whales, coupled with renewed investor interest, are driving this positive trend. Analysts believe sustained momentum and community support could propel ADA towards the $2 range.
Read more »
Cardano (ADA) Price Prediction for January 21When can traders expect price blast from Cardano (ADA)?
Read more »
Cardano ADA Price Unfazed by Binance's Temporary Transaction HaltCardano's ADA price remains stable despite Binance temporarily suspending ADA transactions. The Chang upgrade, marking a step towards decentralization, is set to launch soon.
Read more »