ADA Price Analysis for May 28th: Goal $2
Cryptocurrencies continue to recover. If the bulls overcome resistance, located at $1.83, the path to increase the price to $2 will be opened
This indicator, which now acts as a level of resistance, was the same in early May. It was firmly held by bears, and then was punched. The price of the cryptocurrency has risen above $2.
Then, when the market sank after May 19th, the resistance level became a level of support and for some time kept Cardano from falling further. Then the cryptocurrency for a couple of days traded below $1.83.
Today, the bulls attempted to break higher, but have not yet succeeded. However, the formed pinbar (rebound from the intraday minimum) shows that the bulls still have the strength to move on.
So, what is the forecast for the future of the ADA on May 28th?
Since yesterday, an active green candle has been visible on the chart. On May 26th, the level of $1.74 was broken, if the day session closes higher, the breakthrough is confirmed, and the coin will receive an incentive to grow.
The next goal, as we've already written, is $1.83. This is the maximum daily price for two days May 9th and 26th. Next is the road to $1.91 (that's 38.2% of the Fibonacci), as well as to two dollars, breaking above which will form additional goals for growth.
In the case of a bearish forecast, it is possible to reduce the price of the cryptocurrency to $1.6. This is at least two days at a time May 11th and 27th. In the future, the cryptocurrency will be supported by the level of $1.56, representing 61.8% of the Fibonacci correction.
The current price of cryptocurrency can be found on the Huobi exchange. It is the world's largest crypto exchange with profitable trading offers and low commissions.
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