Cardano Heading Towards a Pivotal Resistance—Will ADA Price Rise Above $1 in February?
Cardano is one of the tokens that have been slow and slow price action for a long time. Meanwhile, the token triggered good growth while the global market remained calm and similar price action is expected to begin any time from now. this ADA price The previous pattern is being returned, which suggests that parabolic recovery for annual highs could eventually lead to 10 times the gathering to mark the double-digit numbers in the coming days.
Will the price reach $1 this month as bullish sentiment hovers over the ADA price rally?
Today’s ADA prices have reached green and have risen vital resistance to $0.8, reaching above $0.81. Therefore, the token is believed to follow the recent BNB price rally, which is above $700 above the key range but fails to hold. As a result, Cardano prices rose by more than $1, but this is the main resistance achieved before retrieving its annual high.
After the temporary high rejected around $1.2, the ADA price began trading within the downward parallel channels. The token tested the lower support and triggered a rebound, which seemed not enough to maintain. The tokens are trading between 50 and 200 days, which keeps bullish hopes hope. Meanwhile, the RSI and Ichimoku cloud models have caused some concerns.
The +di&-di of the cloud is heading towards a bullish crossover, which may indicate the beginning of a bullish trend, but +di does not. Additionally, RSI shows a bearish difference after testing the downtrend line, which is the resistance since the November breakout. Therefore, the current ADA price rally is expected to be a short lifespan, and as the Bulls perform weakly, it may face rejection, which may face rejection.
Therefore, the road to $1 seems boring, as the purchase volume of Cardano (ADA) price rallies also dropped significantly. Therefore, the cryptocurrency market needs to accelerate and surge, which may be bullish around Cardano, which may have a positive impact on prices in the coming days.
