Cardano’s pricing provides an entry point for a bullish breakthrough.

The 55-day and 200-day SMAs are squeezing the Cardano price.
The RSI is moving out of oversold area on the ADA price, and buy-side volume is starting to go up.
As buy-side volume rises by the day, a bullish outbreak appears to be developing.
Cardano (ADA) is now trading in a range between the 55-day and 200-day Simple Moving Averages (SMAs). Bulls are slowly but steadily buying into the ADA price, preparing the way for a bullish outburst anytime soon, according to the Relative Strength Index (RSI). In the short term, a break above the 55-day SMA would open the door to greater upside and fresh all-time highs.

Cardano pricing is seeing an increase in buy-side activity, indicating that it is on the verge of breaking out.

Cardano’s price has been fluctuating between $2.40 and $1.80 since October, ranging from the 55-day SMA on the upside to the 200-day SMA on the downside. With both SMAs moving in the same direction, price action in ADA is stabilizing and appears to be set for a breakthrough in either direction. Expect a bullish breakthrough to take place when the RSI rises, indicating general purchasing.