ADA broke above $1!

Key Support levels: $0.90

Key Resistance levels: $1.3

1. Buyers Sent the Price Above $1

For the first time since 2022, ADA has returned above $1. This impressive performance has made this cryptocurrency the center of attention lately. However, buyers are currently trying to keep the price above this key psychological level. If they succeed, the rally may continue.

Chart by TradingView

2. Strong Buyers are Back

A look at the weekly volume will show that ADA did not experience such demand since the last bull market. This is an excellent news for altcoin holders as it indicates the altcoin season is returning. ADA stands to benefit from this momentum in the coming weeks and months.

Chart by TradingView

3. Momentum is Bullish

Even if the price is consolidating around $1 at the time of this post, the momentum remain bullish as shown by the weekly MACD. As long as the histogram makes higher highs, there are no reasons for this rally to stop.

Chart by TradingView