The technical chart of ADA highlights the gradual positive momentum built by the price levels which is followed by significant retracement after reaching the critical resistance zone
of $0.35. The retracement ended up after the price levels touched the critical support area
of $0.20 on the downside which helped to revive the positive momentum forming a rising channel
pattern. A positive breakout above the 0.236fib level can surely be a bullish
indication for the upcoming trading sessions.
The relative strength index
) is also showcasing positive nature while standing at 59.86 and looking for a positive breakout to the overbought region.
The moving average convergence & divergence ( MACD
) also formed a bullish
crossover and the levels looked for a positive breakout above the histogram line.
The commodity channel index
) was also able to sustain in the overbought region reflecting on the positive sentiment for the crypto asset while standing at 98.02.
Resistance Level: $0.35
Support Level: $0.25 & $0.20