3 min readCARDANO (ADA/USD):
The price action has experienced significant upward momentum over the past few weeks. Currently, we are trading slightly above $1.00, with the price appearing poised to advance further into the internal resistance zone near $1.20.
Examining the technical indicators more closely, it’s evident that the price appears overextended on the RSI, having surged above the 70% threshold. Should there be any short-term pullbacks, I’ll be watching to see if the price rebalances around the 50% Fibonacci level, which aligns with the internal resistance zone that could potentially transition into a support area.
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