Cardano price started a new rally above $ 0.750 zone. Ada now consolidates profits and can strive for a new movement above the level of $ 0.80.
- ADA -Price started a new rally above the levels of $ 0.720 and $ 0.750.
- The price is traded above $ 0.750 and the 100-hour simple advancing average.
- There was a break over an important bearish trend line with resistance at $ 0.770 on the hourly table of the ADA/USD pair (data source of Kraken).
- The couple can start a different increase if it knew the $ 0.80 resistance zone.
Cardano -Price climbs above $ 0.750
After forming a base above the level of $ 0.720, Cardano started a new rally that defeated Bitcoin and Ethereum. Ada was able to erase the resistance levels of $ 0.750 and $ 0.80.
It even rose above the level of $ 0.820. A high was formed at $ 0.8286 before there was a narrow correction. The price tested the $ 0.7620 zone and recently started a new increase. It knew the resistance of $ 0.780. There was a movement above the 50% FIB racement level of the downward correction of the $ 0.8286 Swing high to $ 0.7621 low.
There was also a break over an important bearish trend line with resistance at $ 0.770 on the hourly table of the ADA/USD pair. Cardano price is now traded above $ 0.780 and the 100-hour simple advancing average.
At the top, the price facial resistance near the $ 0.80 zone or the 61.8% FIB racement level of the downward correction of the $ 0.8286 swing can be high to the layer $ 0.7621 layer. The first resistance is almost $ 0.820. The next key resistance can be $ 0.850.
If there is an end above the resistance of $ 0.850, the price can start a strong rally. In the case mentioned, the price could rise to the $ 0.90 region. More profits can ask for a movement for $ 1.00 in the short term.
Another decline of Ada?
If the price of Cardano does not climb above the resistance level of $ 0.80, this can start a new decrease. Immediate support on the disadvantage is near the level of $ 0.7750.
The next major support is near the level of $ 0.7620. A downward break below the level of $ 0.7620 can open the doors for a test of $ 0.750. The next major support is near the level of $ 0.720 where the bulls could arise.
Technical indicators
MACD per hour – The MACD for ADA/USD is gaining strength in the bullish zone.
Picly RSI (Relative strength -Index) -The RSI for ADA/USD is now above 50 -level.
Important support levels – $ 0.7750 and $ 0.7620.
Important resistance levels – $ 0.8000 and $ 0.8200.