Price Levels Forming Rising Channel Indicating Ideal Entry Point

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 ( RSI ) 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 ( CCI ) 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