Rising with the overall market sprinting to new heights, the ADA coin price skyrockets to reclaim crucial psychological levels. With a triangle breakout rally, the Cardano price trend is gaining bullish momentum as Bitcoin remains strong at $34K.
As the ADA price approaches the 200-day EMA, the Cardano price predictions are teasing a high speed breakout rally.
Concluding the long-term downtrend, the ADA price trend shows a bullish turnaround from the $0.23 mark. The reversal rally aligns with the overall market recovery, delivering massive returns for Cardano holders.
The high speed reversal rally breaks above the overhead resistance trendline and exceeds the 50-day EMA to challenge the 200-day average line. In doing so, the uptrend exceeds the $0.30 mark and reflects a 20% jump.
Currently, the ADA price trades at $0.294 with an intraday rise of 1.73%, showcasing a resurgence in buying pressure. However, the higher price rejection in the recent candles reflects strong opposition at the 200-day EMA and the $0.30 mark.
Technical indicators:
MACD indicator: With the overall progressive trend in Cardano, the MACD and signal lines continue the bullish approach. In addition, the rising bullish histograms reflect a rise in buying pressure.
EMA: The rising 50-day EMA and buyers conflict close to the 200-day EMA increases the golden crossover possibility.
Will ADA Price Reach $0.35?
With the rising momentum and improving sentiments, the ADA price may soon skyrocket and exceed the 200-day EMA. Moreover, sustaining a value close to $0.30 reflects high confidence among buyers and increases the breakout chances.
If the ADA price rises above the 200-day EMA, the breakout rally can touch $0.35. On the flip side, a reversal from $0.30 can retest the $0.26.
