ADA Technical Analysis: ADA Set to Break the $0.525 Resistance
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Past Performance of ADA
ADA technical analysis shows that the digital asset has been slightly uptrend over the past few days. The ADA/USD pair is currently trading at $0.4576, slightly below its all-time high of $0.525.ADA found resistance at $0.525, it still trades within an ascending channel. The immediate support for ADA is $0.436.If the digital asset can hold above this level, it will likely resume its uptrend. On the other hand, if ADA breaks below this support, it will likely enter a bearish short-term trend.
On the downside, ADA found support at $0.436, just below its 50-day moving average of $0.438. ADA/USD pair is currently in a bullish trend and is expected to continue its upward movement in the short term.
Source-Tradingview
ADA Technical Analysis
The 50 SMA and 200 SMA technical indicators on the ADA/USD daily chart give off bullish signals. The MACD indicator is also positive, indicating that the digital asset is in a bullish trend. On the other hand, the RSI indicator is currently near the overbought zone, which indicates that the digital asset may be due for a correction in the short term.
Upcoming Trend
If ADA breaks above the $0.525 resistance level, it will likely continue its upward movement and test the $0.55 resistance level. On the downside, if ADA breaks below the $0.436 support level, it will likely fall towards the $0.40 support level.
