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Cardano price climbed higher recently and broke the $0.1000 resistance before correcting lower. Bitcoin price is gaining momentum, increasing chances of a fresh increase in ADA above $0.1000.

  • Cardano price is struggling to settle above the key $0.0982 and $0.1000 resistance levels.
  • There is a key connecting bullish trend line forming with support near $0.0890 on the 4-hours chart.
  • ADA could start a solid increase if it settles above the key $0.1000 pivot level.

Cardano ADA Price

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Cardano Price Analysis (ADA to USD)

After forming a support base near $0.0840, cardano price started an upward move above $0.0900. ADA price even broke the key $0.1000 resistance level, but it struggled to stay above the stated resistance.

Cardano Price Analysis (ADA to USD) Chart

Click to Enlarge Chart

Looking at the 4-hours chart of ADA/USD, the pair climbed above the $0.1000 level, the 25 simple moving average (4-hours), and a major bearish trend line on the same chart.

A swing high was formed at $0.1038 before the price started a downside correction. It declined below the $0.1000 support and the $0.0980 level. Moreover, there was a break below the 50% Fib retracement level of the recent wave from the $0.0843 low to $0.1038 high.


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There was also a spike below the $0.0920 level and the 25 simple moving average (4-hours). However, the bulls were able to defend the $0.0900 support area.

The price stayed above the 61.8% Fib retracement level of the recent wave from the $0.0843 low to $0.1038 high. Moreover, there is a key connecting bullish trend line forming with support near $0.0890 on the same chart.

At the outset, the price is trading with a positive bias above the $0.0920 level. On the upside, there are many resistances near the $0.0960, $0.0980, $0.0985 and $0.1000 levels.

A convincing close above the $0.1000 level is needed for a fresh increase in cardano price towards the $0.1050 and $0.1100 levels. Conversely, there is a strong support forming near the $0.0900 area on the downside. If ADA/USD fails to stay above the $0.0900 support, the bulls are likely to lose control in the near term.

The market data is provided by TradingView, Binance.


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Posted by Dr. Latika Mehrotra

Ph.D in Data Mining, Blockchain enthusiast, and passionate about technology and science. Professor by profession and loves writing interesting articles about Cryptocurrencies, bitcoin, Ethereum, ripple, Forex and commodities.


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