Buyers finally pushed Cardano (ADA) above the moving averages on October 14, suggesting that bears have given up.
ADA/USDT Daily Chart | Source: TradingView
There is minor resistance at $0.37, but it is likely to be overcome. The ADA/USDT pair could then rise to the overhead resistance at $0.40, where bears will attempt to stall the upside momentum. If the price turns down sharply from $0.40 and breaks below the moving average, it will signal that the range-bound action could continue for a few more days.
Conversely, if buyers push the price above $0.40, this will signal the start of a new uptrend. The pair could rise to $0.45 and then $0.50.
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