Cardano Technical Analysis: ADA/USD 8% explosion towards $0.138 could indicate that bulls are ready for $0.15


  • 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

ADAUSD

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

adausd

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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