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On Friday, cardano (ADA<\/a>) gained 0.65%. Following a 0.33% gain on Thursday, ADA ended the day at $0.310.<\/p>\n This morning, ADA was up 0.32% to $0.311. A bullish start to the day saw ADA rise from an opening price of $0.310 to a high of $0.314 before easing back.<\/p>\n<\/div>\n<\/div>\n The Daily Chart showed ADA remained below the $0.326 \u2013 $0.328 resistance band. Importantly, ADA stood above the 50-day\u00a0EMA<\/a>\u00a0($0.310) while sitting below the 200-day EMA ($0.351), sending bullish near-term but bearish longer-term price signals.<\/p>\n Looking at the 14-Daily RSI, the 52.20 reading signaled a moderately bullish outlook. Aligned with the 50-day EMA, the RSI signals an ADA run the $0.326 \u2013 $0.328 resistance band. However, a fall through the 50-day EMA ($0.310) would bring the $0.306 \u2013 $0.303 support band and sub-$0.300 into view.<\/p>\n Looking at the 4-Hourly Chart, ADA sat above the 50-day ($0.310) and 200-day ($0.307) EMAs<\/a>, sending bullish near and longer-term price signals.<\/p>\n Notably, the 50-day EMA pulled away from the 200-day EMA, reflecting bullish near-term momentum.<\/p>\n Looking at the 14-Daily RSI, the 55.97 reading signaled bullish sentiment, with buying pressure outweighing selling pressure. Aligned with the 50-day EMA, the RSI signals an ADA run at the $0.326 \u2013 $0.328 resistance band.<\/p>\n US economic indicators supported riskier assets on Friday. After hotter-than-expected Q2 GDP numbers, US Core PCE Price Index<\/a> numbers eased bets on a September Fed interest rate hike. Significantly, an end to the Fed monetary policy tightening cycle and the Q2 GDP numbers support the soft-landing theory.<\/p>\n However, uncertainty over SEC plans to appeal the SEC v Ripple Court ruling remained a drag. A successful SEC appeal would impact other tokens, including ADA, which could lead to a sharp pullback in project activity on the Cardano network.<\/p>\n The Input Output HK (IOHK) weekly development report had a limited impact on Friday, with project numbers relatively steady. A modest increase in projects building on the Cardano network and a rise in transactions provided modest support.<\/p>\n According to the July 28 Weekly Development Report<\/a>,<\/p>\n While it is a quiet day for the crypto markets, investors should monitor the crypto news wires for updates on SEC plans to appeal the SEC v Ripple Court ruling.<\/p>\n However, investors should track ETF chatter and\u00a0Binance<\/a>\u00a0and Coinbase (COIN<\/a>)-related news, which would move the dial.<\/p>\n<\/div>\n<\/div>\nADA Price Action<\/h2>\n
Daily Chart<\/h2>\n
4-Hourly Chart<\/h2>\n
Easing Bets on a US Recession Offset Sentiment Toward the SEC<\/h2>\n
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The Day Ahead<\/h2>\n