Cardano’s price started a fresh increase above the $0.32 resistance. ADA rise further if it clears the $0.350 resistance zone.
- ADA price is gaining bullish momentum above the $0.320 support against the US dollar.
- The price is trading above $0.320 and the 100 simple moving average (4-hours).
- There is a crucial bearish trend line forming with resistance near $0.348 on the 4-hours chart of the ADA/USD pair (data source from Kraken).
- The pair could continue to move up if it clears the $0.35 resistance zone.
Cardano’s Price Surges 10%
After a steady decline, cardano’s price found support near the $0.298 zone. The price traded as low as $0.2979 and recently started a decent increase. There was a clear move above the $0.315 and $0.320 resistance levels. The bulls pumped the price above the 23.36% Fib retracement level of the main drop from the $0.4213 swing high to $0.2979 low. The price even surpassed the $0.3300 resistance zone.ADA price is now trading above $0.320 and the 100 simple moving average (4-hours). Today, the price is up around 10% and showing positive signs, similar to bitcoin and ethereum.
On the upside, an immediate resistance is near the $0.348 zone. There is also a crucial bearish trend line forming with resistance near $0.348 on the 4-hours chart of the ADA/USD pair. The next major resistance is forming near the $0.36 zone. It is near the 50% Fib retracement level of the main drop from the $0.4213 swing high to $0.2979 low.