ADA Explodes 9% Daily and Breaks Above $0.30, Here_s the Next Target (ADA Price Analysis)

2023-06-22 09:55:24

ADA buyers managed to stop and reverse the downtrend – this took the price back above 30 cents.

Key Support levels: $0.29

Key Resistance levels: $0.32, $0.35

After some hesitation, the price action turned bullish on Tuesday. Since then, ADA broke the resistance at 29 cents and turned it into support. With the price now above 30 cents, buyers might be able to take it higher with the next target found at 32 cents.

Chart by TradingView**Trading Volume:**The buying volume has increased, and the price was quick to react. Buyers have dominated in the past four days.

RSI: The daily RSI is approaching 50 points. Bulls have to keep the momentum in their favor if they hope to protect these most recent gains.

MACD: The daily MACD turned bullish yesterday. This could be the start of a longer rally that can recover some of the most recent losses.

Chart by TradingView## Bias

The bias for ADA is bullish.

Short-Term Prediction for ADA Price

Sellers were exhausted at the start of this week, and with Bitcoin rallying, ADA buyers made the best of this opportunity by taking the price above 30 cents. So long they can protect these recent gains, then the price could continue higher in the near term with key targets at 32 and 35 cents.

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