Cardano (ADA) Bull Run Finally Here? Buyers see $0.40 and even beyond

Cardano surprised the market with a quick rush to the 37 cents resistance. At this rate, a breakup is in the cards.

Key support levels: $0.31

Key resistance levels: $0.37

1. Buyers are pressing key resistance

With price back on the offensive, the 37-cent resistance is now under pressure. Another push higher and this level could soon become support. If confirmed, the ADA could finally enter a rally to recoup some of the recent losses since March.

TradingView Chart 2. Volume is increasing

Since Monday, buying volume has been steadily increasing and if today’s candle also closes in the green, then ADA has a good chance at higher levels. Even if a pullback occurs, the local momentum is still bullish and buyers can do it again later.

TradingView Chart 3. Bullish cross tracks in a rally

With the change in momentum, the 3-day MACD also made a bullish crossover this week. This highlights a major shift that favors buyers. If the resistance at 37 cents becomes a support, the next targets will be at 42 and 46 cents.

Chart by TradingView

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