Cardano (ADA) bulls must break through the $0.2621 resistance to make more money.
After a period of selling pressure that drove ADA prices down to a session low of $0.2553, bulls have taken back control of the market and pushed ADA’s price up by 0.31% to its current level of $0.2599.
The market capitalization and 1-day trading volume both went up by 0.38% to $8,968,969,732 and 69.83% to $149,910,675, respectively, which shows that the ADA market is going in the right direction.
Keltner channel bands on a 4-hour price chart get bigger when market volatility goes up. This idea is supported by the fact that the top and bottom bands, which have values of 0.2644 and 0.2585, meet in the middle. As a bullish sign, it is supported by the fact that the price has recently moved toward the upper range, which is in line with a steady rise.
The RSI reading for the ADA price chart shows that the market is neither oversold nor overbought, but that buying pressure is higher than selling pressure, indicating an upward trend. Since the RSI is higher than 50, it’s clear that the asset’s value is going up. But investors are even more worried because the RSI is going down, which means a bear market correction is coming if the RSI falls below its signal line.
If the True Strength Indicator (TSI) continues to rise above its signal line, it means that bulls are regaining control of the market and that the uptrend is likely to continue, giving investors a better chance of making money. The signal line is at -5.1188, but the TSI is only 0.1756. This TSI rise into the positive range makes traders feel better about the future.
The ATR line, which is currently at 0.0031 and slopes south, shows that Cardano (ADA) is becoming less volatile. Also, this change in the ATR is a warning sign for traders to keep being careful.
In general, it seems like the bears are getting tired, and the fact that the technical indicators are moving up suggests that the bullish trend may keep going.