- ADA price is gaining pace above the $0.720 zone against the US Dollar.
- The price is now trading above $0.732 and the 55 simple moving average (4 hours).
- There was a break above a key bearish trend line with resistance at $0.7220 on the 4-hour chart (data feed via Coinbase).
- The price could continue to rise if it clears the $0.7880 and $0.800 resistance levels.
Cardano price is rising above $0.720 against the US Dollar, like Bitcoin. ADA price could rally further if there is a clear move above the $0.80 resistance.
Cardano Price Analysis
This week, Cardano price started a steady increase above the $0.705 resistance zone against the US Dollar. The ADA/USD pair gained pace for a move above the $0.720 and $0.732 levels.
There was a break above a key bearish trend line with resistance at $0.7220 on the 4-hour chart. The bulls were able to pump the price above the $0.750 resistance. The price even spiked above the $0.780 resistance. A high is formed near $0.7884 and the price is now consolidating gains.
It is trading well above the 23.6% Fib retracement level of the upward move from the $0.5800 swing low to the $0.7884 high. ADA price is also trading above $0.750 and the 55 simple moving average (4 hours).
On the upside, immediate resistance is near the $0.7880 zone. The next major resistance is near the $0.80 zone. A clear move above the $0.80 resistance might start a strong increase toward $0.8320. Any more gains above the $0.8320 resistance might send the price toward the $0.850 resistance or even $0.880.
On the downside, immediate support is near the $0.7380 level. The next major support is near the $0.6880 level or the 50% Fib retracement level of the upward move from the $0.5800 swing low to the $0.7884 high, below which the price could test $0.6280.
A clear move below the $0.6280 level might send the price toward the $0.600 level. Any more losses might send the price toward the $0.5850 support.
The chart indicates that ADA price is now trading above $0.720 and the 55 simple moving average (4 hours). Overall, the price could gain bullish momentum if it clears the $0.7880 and $0.800 resistance levels.
Technical Indicators
4 hours MACD – The MACD for ADA/USD is now gaining pace in the bullish zone.
4 hours RSI – The RSI for ADA/USD is now above the 50 level.
Key Support Levels – $0.7380 and $0.6880.
Key Resistance Levels – $0.7880 and $0.800.
- SEO Powered Content & PR Distribution. Get Amplified Today.
- PlatoData.Network Vertical Generative Ai. Empower Yourself. Access Here.
- PlatoAiStream. Web3 Intelligence. Knowledge Amplified. Access Here.
- PlatoESG. Carbon, CleanTech, Energy, Environment, Solar, Waste Management. Access Here.
- PlatoHealth. Biotech and Clinical Trials Intelligence. Access Here.
- Source: https://www.livebitcoinnews.com/cardano-ada-price-analysis-bulls-aims-for-1/
- :is
- 23
- 50
- 600
- 750
- 80
- 800
- a
- Able
- above
- ADA
- ada price
- ADA/USD
- against
- aims
- also
- analysis
- and
- any
- At
- average
- bearish
- below
- Bitcoin
- Bitcoin News
- Break
- Bullish
- Bulls
- Cardano
- Cardano (ADA)
- cardano price
- Chart
- clear
- coinbase
- consolidating
- continue
- could
- data
- Dollar
- downside
- Even
- For
- formed
- from
- further
- Gain
- gained
- gaining
- Gains
- High
- HOURS
- HTTPS
- if
- immediate
- in
- Increase
- indicates
- IT
- Key
- Level
- levels
- like
- Line
- live
- Live Bitcoin News
- losses
- Low
- MACD
- major
- max-width
- might
- Momentum
- more
- move
- moving
- moving average
- Near
- news
- next
- now
- of
- on
- or
- overall
- Pace
- pair
- plato
- Plato Data Intelligence
- PlatoData
- price
- Price Analysis
- pump
- rally
- Resistance
- retracement
- Rise
- rising
- rsi
- send
- Simple
- start
- started
- strong
- support
- support levels
- Swing
- test
- that
- The
- There.
- to
- toward
- Trading
- TradingView
- Trend
- Upside
- upward
- us
- US Dollar
- via
- was
- week
- WELL
- were
- which
- with
- zephyrnet
- zone