Cardano (ADA) Token Tests Descending Trendline, Shows Potential for 22% Surge

Cardano's (ADA) token is back to testing the descending trendline that has been at a tough resistance level since March 14.

Cardano's (ADA) native token is once again testing a descending trendline that has acted as a strong resistance level since March 14.

This move follows a bounce off the weekly low of $0.32 and holding above the $0.395 level, indicating potential bullish continuation.

At press time, ADA is trading at $0.395, up 2.46% over the past 24 hours, making it the biggest gainer among the top 10 cryptocurrencies.

This market optimism has pushed its intraday market capitalization up to $14.191 billion, ranking it 10th on the crypto charts. However, its 24-hour trading volume has also seen a 13.86% increase, reaching $294.95 million.

According to TradingView data, the ADA token is now testing a 4-month trendline.

If the token breaks this level, it could signal a bullish breakout, keeping its price above $0.40.

This positive breakout could see ADA prices rise 22%, potentially breaking past June's high of $0.49, as predicted by market experts.

Crucially, the RSI index supports this bullish outlook.

As seen in the above analysis, the RSI is forming higher lows and higher highs, indicating a bullish trend.

At 53.11, the RSI also suggests that ADA is not overbought, leaving potential for further price appreciation and a breakout above $0.49.

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