The ADA price prediction is for the asset to continue the recovery if the bulls can take out the critical resistance at 1.8365. This resistance level held out firmly in early May, was eventually broken but became a relevant barrier as crypto prices crashed last week.
Yesterday’s upside move stalled at that area, and bulls could not attain that height on Thursday. However, the bounce at the intraday low suggests that the bulls are not done yet.
With these points in mind, what is the ADA price prediction?
Following yesterday’s penetration close above the 1.7420 resistance, the active daily candle is in a struggle to close above this level to confirm the break. Bulls have forced back prices from intraday lows to this price level to form a pinbar. A higher close confirms the break and opens the door towards 1.8365 (9 May and 26 May highs), with 1.9179 (38.2% Fibo retracement) and the cluster around 2.000 forming additional targets to the upside.
On the other hand, rejection at the current price or at 1.8365 leads to a descent that targets 1.6000 initially (11/27 May lows), with 1.5661 (61.8% Fibo retracement, 14 April high and 8 May low), 1.4992 and 1.4000 (29 April high coming into the picture). An additional downside target exists at 1.3157 (78.6% Fibo retracement), but only if the decline is extensive.
