ADA coin price shows a rise in the underlying bullishness evident by the price action formed at the descending support trendline. 

Key technical points:
<ul>
 	<li style="font-weight: 400">ADA coin price approaches the $1 mark.</li>
 	<li style="font-weight: 400">In addition, the price action hints at a rounding bottom breakout.</li>
 	<li style="font-weight: 400">Finally, the 24-hour trading volume of Cardano is $1.83 Billion, marking a 31% rise. </li>
</ul>
<h2>Past Performance of ADA</h2>
The ADA coin price shows a reversal from the descending support trendline resulting in the price jump of more than 20% last fortnight. The price action shows a stronger underlying bullishness evident by the rounding bottom and the 50-day EMA breakout. However, the price action shows higher price rejection near the psychological mark of $1. 

 <img src="https://s3.tradingview.com/snapshots/7/70ck2xJl.png" alt="TradingView Chart" />

Source-<a href="https://www.tradingview.com/x/70ck2xJl/">Tradingview</a>
<h2>ADA Technical Analysis </h2>
ADA coin price action shows a retracement from the $1 mark that comes as the retest of the rounding bottom breakout. Hence, the psychological barrier breakout will represent an excellent buying opportunity. 

The crucial EMAs (50, 100, and 200) showcase a bearish alignment despite bulls transcending the 50-day EMA and preparing to head higher after retest. Hence, a retracement to the 50-day EMA is an excellent buying opportunity. Furthermore, the breakout rally teases a jump to the 200-day EMA, accounting for a 35% jump.

RSI Indicator: The RSI slope crosses into the nearly overbought zone, with the 14-day SMA mimicking the bullish behavior. Hence, the indicator projects solid buying pressure and teases a rally to $1.125 at minimum. 

MACD Indicator: The MACD and signal lines showcase a phenomenal rise with an increasing bullish spread. Moreover, the bullish histograms continue to grow in intensity, projecting a boom in buying pressure. 

In a nutshell, the ADA technical analysis project a boom in buying pressure that may shortly overpass the $1 mark and approach the 200-day EMA.
<h2>Upcoming Trend </h2>
ADA coin price shows a growing underlying bullishness with the rounding bottom and the 50-day EMA breakout. However, the price must sustain above the 50-day EMA for the uptrend to grow. 

Conversely, a price succumbing under the 50-day EMA will nullify the bullish ideology and result in a price fall to the $0.85 mark. 

Support Levels: $0.90 and $0.85

Resistance Levels: $1.15 and $1.30

ADA Technical Analysis: Rounding Bottom Plans To Cross $1 

ADA coin price shows a rise in the underlying bullishness evident by the price action formed at the descending support trendline. 

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.

ADA Technical Analysis: Rounding Bottom Plans To Cross $1

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