Cardano Price Analysis: ADA/USD flies up by 13.85% amid bullish dominance
|- ADA/USD finds immediate resistance at the SMA 200 curve.
- ADA/USD has broken above the 20-day Bollinger Band, indicating that it is currently overpriced.
ADA/USD daily chart
ADA/USD spiked up from $0.036 to $0.041 this Thursday as the bulls retained control for the third consecutive day. In the process, the price broke above both the pennant formation and the 20-day Bollinger Band. The latter shows that the asset is currently overvalued and may face bearish correction soon. The price faces immediate resistance at the SMA 200 curve. The MACD indicates increasing bullish momentum, while the RSI has spiked up and reached the edge of the overbought zone.
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