Cardano price started a new increase compared to the $ 0.80 zone. ADA now rises and can try a clear movement above $ 1.00 zone.
- ADA price started a new increase compared to the $ 0.80 support zone.
- The price acts above $ 0.950 and the 100-hour simple advancing average.
- There is an important bullish trend line that forms with support for $ 0.9350 on the hourly table of the ADA/USD pair (data source of Kraken).
- The couple can increase profit if it knew the $ 1.00 resistance zone.
Cardano Price eyes rise stably
After a sharp decline, Cardano found support in the vicinity of the $ 0.7650 zone and started a new increase, such as Bitcoin and Ethereum. ADA was able to exceed the resistance levels of $ 0.80 and $ 0.850.
There was a clear movement above the resistance levels of $ 0.850 and $ 0.950. Finally, the price near the level of $ 1.00 was traded. A high was formed at $ 0.9880 and the price now consolidates above the 23.6% FIB retracement level of the upward movement of the $ 0.7653 Swing low to $ 0.9880 high.
Cardano price is now traded above $ 0.950 and the 100-hour simple advancing average. There is also an important bullish trend line that forms with support for $ 0.9350 on the hourly table of the ADA/USD pair.
Source: Adausd on TradingView.com
At the top the price can resist the $ 0.9880 zone. The first resistance is almost $ 1.00. The next key resistance can be $ 1,020. If there is an end above $ 1,020 resistance, the price can start a strong rally. In the case mentioned, the price could rise to the $ 1,120 region. More profits can ask for a movement to $ 1,150 in the short term.
Another pullback in Ada?
If the price of Cardano does not climb above the resistance level of $ 1.00, this can start a new decrease. Immediate support on the disadvantage is close to the level of $ 0.960.
The next major support is close to the level of $ 0.9350 and the trend line. A downward break below the level of $ 0.9350 can open the doors for a test of $ 0.9120. The next major support is near the level of $ 0.880 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 – $ 0.960 and $ 0.9350.
Important resistance levels – $ 0.9800 and $ 1.00.