ADA price started a rally on January 10 and managed to climb as high as $1.51. The price surpassed the $1.20, $1.35, $1.42 and finally $1.50 before hitting a resistance level and settling above $1.50. Currently, ADA is around $1.51.
Buy and Sell ADA with the lowest exchange fees on HiExchange.
ADA Price Action Analysis
Taking a look at the 1-hour chart, we see ADA has started a strong rally from $1.10 last week. During this 40$ rally, the price managed to surpass $1.20, $1.35 and $1.53 resistance levels.
Currently, ADA price is facing a resistance at $1.53 to $1.55. In case the price breaks through these levels, the $1.60 and $1.75 will be the next resistance levels.
On the other hand, if ADA price fails to surpass the $1.53 to $1.55 zone and loses the $1.49 support, there will be further correction ahead.
The next support levels down the line are $1.45 and then the $1.40 to $1.38 zone near the 50% Fibonacci retracement level. In case of losing the trendline and the SMA100, the $1.35 to $1.30 will support the price ADA next.
The Technical Indicators
MACD indicator: at the time of writing this article the 1-hour MACD indicator for ADA is on an upward momentum.
RSI: the 1-hour relative strength index is approximately 76.
Resistance levels: the first support level will be $1.55 followed by $1.60. The $1.70 to $1.75 zone is the next resistance levels.
Support levels: the first support for ADA is at $1.50 followed by $1.45 and then $1.38.
HiExchange
HiExchange is a decentralized online platform to exchange your cryptocurrencies and e-currencies. We utilize an automated system to determine the best exchange rates at any moment. Furthermore, HiExchange does not require KYC or a sign-up process. Backed by 24/7 customer support, our great reviews on OkChanger and Trustpilot is a testament of our good will. We are on Bestchange and are always amongst the top exchanges.
To learn how to exchange your cryptocurrencies to PayPal you can read our instructional article.
For more instructional content, you can always visit HiExchange Blog
