ADA Technical Analysis: Rounding Bottom Breakout Teases 25% Jump

ADA coin price action shows a rounding bottom breakout with the neckline at $1.18 and teases a potential bull run to $1.50. Should you buy more? Key technical points: ADA prices approach the 200-day EMA. The 50-day EMA shows a sudden reversal teasing a potential bullish crossover. Finally, the 24-hour trading volume of Cardano is $1.49 Billion, marking a 48% rise. Past Performance of ADA The ADA coin price shows a remarkable, bullish recovery after a downfall of 35% in February and early March. However, the recovery rally accounting for a 50% jump, inflates prices to $1.21 from the bottom of $0.77. Furthermore, the reversal brings a rounding bottom pattern breakout with a neckline at $1.18 after the 100-day EMA breakout. Source-Tradingview ADA Technical Analysis ADA coin price shows a jump in buying pressure as the trading volume boosts and reflects the solid bullish commitment. Hence, the increasing buying pressure projects a high possibility of uptrend continuation above the $1.20 mark. The Cardano market price booms after the 100-day EMA in the past few days resulting in the sharp reversal of the 50-day EMA. Hence, the possibility of a bullish crossover between 50 and 100-day EMA increases. RSI Indicator: The RSI slope spikes higher into the overbought zone by taking dips at the 70% borderline. Furthermore, the 14-day SMA continues to rise diagonally and aims to enter the overbought territory. MACD Indicator: The MACD and s...