Bullish signs for ADA after 30% weekly increase.

Cardano has been one of the coins to watch during the recent bull run and is currently showing promising signs of continued upside.

By Edris Derakhshi (TradingRage)

The USDT Paired Chart

The daily chart of ADA/USDT shows interesting price action. The asset has been gradually declining since being rejected by the $1.2 resistance level. However, the market has experienced a quick reversal at the $0.75 support level and has broken the higher bearish trend line.

As a result, the asset is recovering towards the $1.2 resistance level at the moment, and a breakout could lead to a rally to a new record high.

The paired chart of BTC

The ADA/BTC price action on the daily time frame is quite similar to the USDT paired chart. The market has been supported at the 900 SAT level and is now rising again towards the 1500 SAT resistance zone.

With the RSI indicating that the momentum is bullish, it is very likely that the market will reach the mentioned zone, which would mean that ADA is likely to outperform BTC in the coming weeks.

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