Will ADA Hold $1.10 or Push Higher?

• Cardano (ADA) holds strong at $1.10, aiming to break the $1.125 resistance level.
• RSI at 61.20 signals bullish momentum with room for further growth before reaching overbought levels.
• A breakout above $1.125 could push ADA to $1.15 or higher; support lies firmly at $1.05.

Cardano (ADA) continues to show strength, currently trading at $1.12, reflecting a 5.79% increase in the past 24 hours. Strong trading activity and market sentiment have driven this upward movement, pushing its market cap to $40 billion and signaling rising investor confidence.

Key Support and Resistance Levels

Cardano‘s price chart shows an upward trend with $1.05 acting as a strong support level. Buyers have consistently stepped in at this price point, fueling bullish reversals. Holding above $1.10 has further strengthened ADA’s positive outlook, signaling robust buyer interest.

On the resistance side, $1.125 remains the critical level to surpass. Temporary pullbacks have been observed as sellers test the market, but sustained momentum above this point could pave the way for ADA to target $1.15 or higher. If the price dips below $1.10, $1.05 will likely serve as a safety net for buyers.

Related: Cardano Outlook: Price Action and Strategic Partnerships Could Propel ADA to New Heights

Technical Indicators Supporting the Trend

Several technical indicators highlight ADAs bullish momentum:

• Relative Strength Index (RSI): ADAs RSI stands at 61.20, suggesting moderate bullish conditions. With room to move higher before reaching overbought territory, ADA may continue its climb.
• MACD Indicator: The Moving Average Convergence Divergence (MACD) indicator supports the bullish case. The MACD line remains above the signal line, and the histograms widening positive bars confirm strengthening momentum.

Related: Cardano (ADA) Price Prediction for January 15: What to Expect in the Next 24 Hours

• Expected Price Action in the Next 24 Hours

Cardanos ability to maintain its momentum will largely depend on price action around $1.10 and $1.125. A break above $1.125, accompanied by high trading volume, could set the stage for a move to $1.15 or even $1.20. Conversely, failure to hold above $1.10 might lead to a retracement toward $1.05.