Cardano (ADA) offers signs of bullish momentum, exceeding $ 0.75 and raising the possibility of an additional increase to a $ 1 sign.
At the time of the press, ADA is trading at $ 0.755, an increase of 4 % in the past 24 hours, as it helped the renewed purchase pressure on the Crypto Cardano Rise market.
Bitcoin (BTC), the largest encrypted currency depending on the market value, is close to its highest levels at the early Wednesday session, reaching $ 108,000. Open futures for the main encryption exchange at the highest level at all times, indicating an increase in speculative activity and tied property.
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Cardano has regained a decrease of $ 0.7105 on May 19 and is on the way to publishing two consecutive days of gains since then. Today’s earnings reached the highest level during the day at $ 0.766, as the market is waiting to find out what happens after that for Cardano.
What next?
On the upper side, the upcoming Kardano resistance is located in Daily SMA 50 at $ 0.811 and then 0.8645 dollars. If ADA is able to keep its momentum and overcome these resistance levels, it may eventually reach $ 1. The increase will be one dollar that is one important for Cardano, indicating a possible return to the previous emerging market track.
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However, Cardano is still in uniformity among its 50 and 200 moving averages at $ 0.689 and $ 0.811, respectively. Daily RSI slightly over 50 points, indicating the possibility of unification in the coming days before the next main step.
The next support level is $ 0.71, before SMA for 50 days worth $ 0.68. SMA break and closure for 50 days raises a decrease to $ 0.58.
