ADA is close to the $0.90 resistance. Can it break it in the next several days?
Key Support levels: $0.77, $0.70
Key Resistance levels: $0.90, $1
1. Resistance Under Pressure
Buyers managed to bring ADA under the key resistance at $0.90. If the bulls can break this level and turn it into support, this cryptocurrency has a real shot at revisiting $1 and even rallying to make new highs this year. We will likely find out in the next few days if the buyers are successful here.
2. Buyers Return, But Remain Timid
Even if the price has moved upwards, the momentum is not there yet to break the current resistance. Volume needs to pick up here. So far, sellers have been absent, but they could return as soon as the key resistance at $0.90 is under serious threat.
3. Buy Volume Bounced
For most of August, Cardano’s volume profile has been falling. However, in September, buyers appear more active, and there was a small spike in buying pressure. If this can be followed up with a higher high on volume, ADA should be able to break above $0.90.
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