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Today’s session will be critical to determine if the asset still has a chance to maintain some of its post-announcement gains or if it will succumb to the faith of others like SOL and ETH, whose Sunday rally was fully reversed during yesterday’s market rout.
Momentum indicators still favor a bullish outcome for this rally, as the Relative Strength Index (RSI) is still above the signal line. Moreover, the MACD’s histogram is also in positive territory, although a light green bar – declining momentum – has popped up today.
If bulls manage to keep the price above $0.85, ADA’s rally could grow a pair of legs. The unexpected inclusion of the token in such an important list is an important pad in the back for a network that has been overshadowed by the rise of Solana (SOL) and BNB Chain (BNB).
Meanwhile, the hourly chart shows that bulls lost the fight during the beginning of the American session, as sellers managed to reverse a significant uptick that came after the opening bell.
The $0.85 area has turned into resistance for now, but momentum is favoring buyers as the Relative Strength Index (RSI) is still above the signal line while the MACD is also displaying steadily rising green bars.
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