• Cardano’s ADA is attempting a fresh increase above the $0.260 resistance.
• If there is a close above the $0.30 resistance zone, then it could start a fresh rally.
• On the downside, ADA price might find support near the $0.265 zone and the 50 simple moving average (4 hours, blue).
ADA Price Prediction
Cardano’s ADA is attempting a fresh increase above the $0.260 resistance against the US Dollar. If there is a successful close above the $0.30 resistance zone, then it could start a fresh rally towards higher levels in the near future. On the downside, if there is no move beyond this point then ADA might find support near $0.265 and drop to lower levels again in coming sessions.
Price Movement Analysis
This month, Cardano’s ADA saw a strong decline below its key support level of $0.32 against USD and tested its low of about $0.2205 before starting an upward recovery process from hereon out. There was a break above its simple moving average (SMA) of 50(4 hours) and breached through its bearish trend line with resistance near $0.260 on 4-hour chart which further pushed up prices for recovery mode as well as potentially signalling bullish momentum ahead in coming days/weeks ahead too..
On upside, ADA is facing strong resistance near at around $0.282 level while first major hurdle lies at around $ 0.290 levels after which price may test 50% Fib retracement of downward move from swing high of about$ 03820 to low of about$ 022005 placed at around 0300 levels . Breaking past these resistances may lead to further price surge for next targets at around 03800 & 04000 marks respectively .
On downside , however , ADA may find immediate support near 265 zones followed by SMA50(4 hours) & 2205 marks respectively . Dipping below 2205 mark will likely trigger more bearish moves ahead leading prices towards 200 marks eventually .
In conclusion , ADA bulls must settle above 300 marks & jump beyond 320 levels eventually for starting new bullish rally whereas failing which bears may gain control back over market taking prices towards 252 & 200 supports eventually .