Cardano Technical Analysis: ADA Prices Breakout as Bulls Target $0.78

Cardano is up 18 percent in the past 24 hours, adding versus the USDT. With the breakout above the middle BB, ADA prices may expand to retest at $0.78 or March 2022 lows. Past Performance of Cardano The Cardano coin is one of the top performers reading from ADA technical analysis in the daily chart. The coin is up 18 percent at spot rates, outperforming the USDT. Technically, from an effort versus results perspective, bulls might have the upper hand following the reversal of May 11 losses. Cardano Technical Analysis According to Cardano technical analysis of the daily chart, it can be seen that buyers have the upper hand. The surge of prices in the past few trading days, reversing the losses of May 11 and 12, is bullish. Notably, ADA crypto prices are also trading above the middle BB. It is a former resistance, now support. Therefore, bulls have the upper hand as long as Cardano token prices are above the middle BB and ideally $0.50. In the short term, buyers can buy dips, targeting March 2022 lows of $0.78. What to Expect from ADA? Buyers are firm, and the path of least resistance seems northwards. The expansion of crypto prices and the break above the middle BB could be a foundation for more gains. As highlighted, Cardano buyers are in charge as long as prices are above $0.50.

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