Lorenzo Stroe
Independent Analyst
- Cardano price is currently at $0.1322 trying to hit a new 2020-high again.
- There is a lot of bullish momentum and trading volume pushing the price of ADA.
ADA/USD had a significant drop to $0.12 after getting rejected at $0.136 on July 13. The bulls managed to buy the dip and have pushed ADA above $0.13 again, eying up the last daily high at $0.138. If the buyers can crack this level, they could easily continue climbing until $0.15 without a lot of resistance to the upside.
ADA/USD daily chart
 (9)-637303472119957656.png)
After establishing a clear higher low at $0.11, buyers are getting a lot of continuation and waiting for the next leg up above $0.138. The daily EMAs are still far away but the RSI has remained overextended for the entire month.
ADA/USD 1-minute chart
 (10)-637303472261676565.png)
The 12-EMA and the 26-EMA have crossed bullishly after ADA blasted through them hours ago. The RSI is also overextended here and could indicate that a pullback is nearby. The next resistance level for ADA is located at $0.136.
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