<em><strong>ADA prices revert from the $0.43 support level teasing a rally above the $0.50 mark. Will this breakout rally start a bull run in the coming month?</strong></em>

With a 20% drop last week, buyers failed to maintain dominance at the $0.50 mark resulting in a decline to the $0.43 mark. However, the price trend reverses this week, resulting in a slight recovery teasing a bullish reversal to the psychological mark of $0.50. Will this breakout result in a bullish month for <a href="https://www.cryptoknowmics.com/news/kraken-announces-cardano-support-as-a-collateral-on-its-futures-platform/" target="_blank" rel="noopener">Cardano</a>, or is a reversal ultimate?
<h3>Key Points:</h3>
<ul>
 	<li>The ADA prices prepare a bullish launch to the $0.50 mark.</li>
 	<li>The 50 and 100-day SMAs struggle to give a bullish crossover as the market price trades under them.</li>
 	<li>With a market cap of $16.29 billion, the intraday trading volume of Cardano has increased by 51% to reach $740 million.</li>
</ul>
<img class="alignnone" src="https://s3.tradingview.com/snapshots/y/yyi8M6zD.png" alt="ADA/USD Price Chart" width="2047" height="1057" />

Source - <a href="https://www.tradingview.com/x/yyi8M6zD/" target="_blank" rel="nofollow noopener">Tradingview</a>
<h2>ADA Technical Analysis</h2>
The ADA prices fell sharply after facing higher price rejection at $0.57 resulting in a 20% drop within a week. The downtrend breaks below the psychological mark of $0.50 and the crucial supporting 50 and 100-day SMAs. Nonetheless, the small body at low price reduction candles questioned the downfall nearest $0.43 mark.

Currently, the daily candle shows a 2.80% price jump and is preparing to rise above the broken SMAs. If the increase in buying pressure drives the market price above $0.50, traders can expect a bullish crossover in the 50 and 100-day SMA.

The low volume reversal from the $0.43 mark reflects a high possibility of $0.5 resistance. The bearish reversal from this overhead barrier could tumble the prices 10% lower and breach $0.43. The continuation of the prevailing downfall can slump the altcoin to July low support of the $0.4 mark.

On a bullish note, the $0.5 resistance breakout will trigger a new recovery cycle that pushes the ADA price 24% higher to hit $0.59. Furthermore, the bullish crossover of the 50 and 100-day EMA will fuel the uptrend to rise higher to the $0.64 mark.
<h2>Technical Indicators</h2>
Amid the recent relief rally, the RSI slope wavering below the midline reflects the market sentiments still bearish. Despite a breakdown below the midline, the fast and slow slope closing in for bullish crossover reflects a slight weakness in bearish momentum.

Hence the technical indicators support the downtrend possibility of ADA prices under the 50-day SMA.

Resistance Levels: $0.50 and $0.64

Support Levels: $0.43 and $0.38

Can ADA Holders Find September Extremely Bullish After $0.50 Breakout?

ADA prices revert from the $0.43 support level teasing a rally above the $0.50 mark. Will this breakout rally start a bull run in the coming month?

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

Can ADA Holders Find September Extremely Bullish After $0.50 Breakout?

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