Cardano is setting its sights on the 100-day moving average, currently at $0.489, following a recent bullish trend. Market analyst Nick Valdez, also known as Deezy, noted that Cardano has shown resilience by bouncing from the 20-day moving average and tentatively breaking above the 50-day moving average. This upward movement suggests the 100-day moving average is the next significant target for ADA. After a recovery run in early January, Cardano retested the 20-day moving average, finding support at $0.380. The cryptocurrency then surged 9% to reach $0.425, breaking above the 50-day moving average. Despite facing resistance at $0.43, Deezy believes the correctional phase may be ending, with a higher-low formation indicating potential for further gains. However, ADA must maintain support at the 50-day moving average to continue its upward trajectory.
Cardano Targets 100-Day Moving Average Amid Bullish Momentum
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