Cardano (Ada) Rallies, Puas yuav ADA ncav cuag tus nqi $0.056?

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ADA / USD Kev Lag Luam Ntev: Rho tawm
Cardano has been consolidating at the bottom of the chart in December above $0.030 support level. Recently, on January 14, the bulls broke above the $0.040 price level and continued the upward movement. The upward movement is ongoing as the bulls break above the $0.045 price level. The bulls are likely to face resistance at the $0.046 price level.

That level has been defended by the bears. On the upside, a break above $0.046 resistance will propel ADA to a high of $.056. At that price level, ADA will be on the verge of coming out of the downtrend zone. Conversely, if the bulls fail to break above the $0.046 resistance, ADA will be compelled to a sideways move between $0.030 and $0.045.

ADA / USD - Daim Ntawv Qhia Txhua Hnub

Qhia Txog Cov Lus Qhia Txhua Hnub Nyeem:
Cardano is currently trading in the overbought region of the daily stochastic. That is above 80% range of the indicator. This indicates that at the overbought region ADA may face selling pressure. In other words, ADA is likely to fall. In the upward move, moving averages are indicating a bullish crossover.

ADA/USD Medium-term bias: Bullish
On the 4-hour chart, ADA is consolidating  between $0.032 and $0.036 before the current upward move. The bulls broke the resistance at $0.036 and moved upward. Later, the price pullback to retest the $0.036 support before the final upward move. The ADA has risen to a high of $0.046. The bulls have made three attempts at the overhead resistance without breaking it.

ADA / USD - 4 Teev Sij Hawm

4-teev Daim Ntawv Qhia Qhia Kev Nyeem
The 21-day SMA and the 50-day SMA are trending upward indicating the bullish trend. The Relative Strength Index period 14 level indicates that the price is in the bullish trend zone. ADA is likely to rise.

General Outlook rau Cardano (ADA)
Cardano is in an upward move to the previous highs. ADA is currently facing resistance at $0.045 price level. Nevertheless, at the same time, the stochastic is indicating that the coin is in the overbought region. Therefore the upward move may be interrupted and ADA may fall.

ADATrade Teeb Liab
Ntsuas: ADAUSD
Kev Txiav Txim: Yuav Txwv
Tus nqi nkag: $ 0.042
Nres: $ 0.040
Lub Hom Phiaj: $ 0.056

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Azeez Mus

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