Cardano price rallied recently, but it failed again to surpass the $0.1000 resistance. Bitcoin price is currently gaining strength, which could spark a significant upside break in ADA above $0.1000.

  • Cardano price is currently placed nicely above the main $0.0870 support area.
  • There is a key bullish trend line forming with support near $0.0910 on the 2-hours chart.
  • ADA is forming a bullish candle pattern and it could continue to rise above $0.0980.

Cardano ADA Price

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Cardano Price Analysis (ADA to USD)

There was another rejection in cardano price near the $0.0780 level. As a result, ADA price started a strong upward move above $0.0800 and broke the $0.0850 and $0.0900 resistance levels.

Cardano Price Analysis (ADA to USD)

Click to Enlarge Chart

Looking at the 2-hours chart of ADA/USD, the pair broke the main $0.0900 resistance level and settled above the 25 simple moving average (2-hours). The upward move was such that the price even cleared the $0.0950 level.

It retested the $0.0980 resistance area, where the bulls failed once again. It seems like the $0.0980 and $0.1000 levels are significant barriers for the bulls.


It recently corrected lower below $0.0950 and the 23.6% Fib retracement level of the latest rise from the $0.0764 low to $0.0973 high.  However, the $0.0908 level is acting as a strong support along with the 25 simple moving average (2-hours).

Moreover, there is a key bullish trend line forming with support near $0.0910 on the same chart. If there is a downside break below the $0.0900 support level, the price could test the next major support area near the $0.0870 level.

The 50% Fib retracement level of the latest rise from the $0.0764 low to $0.0973 high is also near the $0.0870 level to provide support. Therefore, as long as the price is above $0.0900 or $0.0870, there are chances of more upsides.

To start a strong upward move, cardano price must break the $0.1000 resistance area. There are high possibilities of ADA clearing the $0.1000 barrier, considering the current strength in bitcoin, Ethereum, ripple, bitcoin cash and Litecoin. Then next major resistance above $0.1000 is near $0.1200.

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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