After The Weekly Surge Of 33%, What’s Next For Cardano’s ADA?

After the weekly surge od 33%, ADA climbed back above the $0.1 level and reached $0.102 so the coin rebounded from the long-term rising trend line. ADA’s was stalled most of the September at the $0.075 trend line but it managed to rebound as it edges towards 1000 SAT Again so let’s read in our Cardano coin news today.

ADA dropped from $0.125 in early September and reached the support of $0.087 but managed to penetrate beneath the level as we went deeper into September and it headed lower into the support of $0.075. The price support was bolstered by the 6-month old rising trend line which helped ADA to rebound last week. After bouncing, It broke the $0.1 price level at the start of the week and managed to close each daily candle above the level. Right now, ADA is facing strong resistance at a bearish trend with 0.382 Fib retracement near a $0.105 level. Looking ahead, if the bulls manage to push past $0.105, the first major resistance level lies at $0.114 which is followed right after with $0.12 and $0.123.

On the other side, the first level of support is expected to hit $0.1 while below it, the support lies at $0.095 or $0.09. The stochastic RSI is in overbought territory with a bearish crossover signal which could put an end to the bullish push higher. Against Bitcoin, the situation is similar to ADA dropped below the early September support at 880 SAT. It then continued until finding support at the 6-month old rising trend line at 750 SAT.

After the weekly surge, ADA bounced from the 750 SAT and headed above 900 SAT but then struggled to break the current resistance at 945 SAT. going on, once the bulls manage to break the 945 SAT, the first level of resistance is set at 1000 SAT above which the resistance is located at 1070 SAT. On the other side, the first level of support lies at 900 SAT while below it the support is set at 880 SAT, 810 SAT, and then at the increasing support trend line. Likewise, the stochastic RSI is in overbought territory with a bearish cross over the signal that could stop the further upside momentum.

In our Cardano coin news, we reported that The Cardano Metadata transactions are now ready to migrate from the Ethereum blockchain with the help of Goguen.