According to CryptoPotato, Cardano (ADA) has made a notable move towards the 37 cents resistance level, suggesting a potential breakout. The key support level is identified at $0.31, while the key resistance level stands at $0.37.
Buyers are currently exerting pressure on the 37 cents resistance. If this level is breached, it could turn into a support, potentially leading ADA into a rally to recover recent losses since March. The increasing buy volume since Monday indicates a growing interest in ADA, and if today's trading session closes positively, the cryptocurrency could aim for higher levels. Even in the event of a pullback, the local momentum remains bullish, providing buyers with another opportunity to push the price higher.
Additionally, the 3-day MACD has shown a bullish cross this week, signaling a shift in momentum that favors buyers. Should the 37 cents resistance become support, the next targets for ADA would be 42 and 46 cents.
