Cardano is currently one of the most effective assets in the cryptocurrency market after restoring the most important threshold of $ 1. For ADA, this step is the main turning point after consolidation weeks below this level. Cardano surpassed its 10 best peers in the short term as a result of this recovery, which reflects growing confidence in the market. Technically speaking, the ADA price table demonstrates a certain bull impulse.
Currently, the asset stabilizes above $ 1 after a successful breakthrough of 50 EMA, which is an important level of dynamic resistance. This level is currently a critical zone of support, so investors should carefully monitor it. With immediate resistance at 1.10 and $ 1.15, sustainable retention above $ 1 can open a door for greater growth. ADA can aim at the next significant resistance level at the level of $ 1.25, if the bull impulse continues.
Any refusal close to this area can lead to a small rollback or temporary consolidation. The first important support zone in the bear scenario will be a range from 0.97 to 0.95 US dollars, which will be followed by $ 100, about $ 0.88. ADA can be vulnerable to an additional decrease, possibly aiming at 0.80 US dollars if it breaks below $ 0.88. The recovery of ADA is also supported by volumetric trends, since over the past week the pressure on the purchase exceeded sales.
Moreover, RSI levels show that there is still an opportunity for further upward movement, because the asset has not yet been bought. The return of Kardano demonstrates his perseverance and increasing the attractiveness of investors. ADA is one of the blockchain platforms, which is developed the most, so its price movement often reflects the mood of the market as a whole.
The emphasis will now be placed on maintaining this impulse and violation of higher resistance levels from the moment of restoration of the level of 1 dollar. Since the ADA is still superior to other elite cryptocurrencies, this is currently a valuable asset to be monitored.
