Cardano Seeks Breakthrough at $0.8119 Resistance Level
Cardano's ADA is approaching the $0.8119 resistance level, showing bullish momentum after steady accumulation by buyers. Key points include:
- A decisive move past $0.8119 could lead to further gains.
- Failure to break through may invite selling pressure.
- ADA has rebounded from the $0.6822 support mark, indicating increased buying pressure.
- Current price movement aligns with the 100-day Simple Moving Average, which acts as a dynamic resistance.
- The Relative Strength Index (RSI) has crossed above 50%, suggesting bullish market conditions.
- Trading volume surged over 10% in the last 24 hours, indicating heightened market activity.
If ADA surpasses $0.8119, potential targets are $0.8306 and $0.9077, leading to a test of $1.2630. Conversely, failure to breach this level may lead to consolidation or a pullback, with $0.6822 as the next support level, where bulls must hold to avoid deeper losses.
