ADA's price is exhibiting an upward trend, surpassing the critical $0.600 pivot level.
Currently, ADA is positioned above both $0.600 and the 100 simple moving average, indicating a bullish market sentiment.
The pair has the potential to gain momentum and ascend towards the $0.800 level, with further prospects of reaching or even surpassing the $1.00 mark in the coming weeks.
On the 4-hour chart, Cardano is currently trading within a Bullish Flag Pattern on the 4-hour chart.
As per Coingabbar Price Analysis, ADA is gaining momentum above the $0.60 resistance level.
A clear move above the resistance levels at $0.685 and $0.700 could trigger a further rally in Cardano's price.
The occurrence of a golden cross is seen as a positive sign, assuring investors of an uptrend gaining traction and minimizing the chances of Cardano rolling back its gains.
Leading altcoins, including Cardano, are experiencing increased buying interest, resulting in Cardano reaching its highest level in 18 months.
According to Fibonacci retracement levels, Cardano's price is in the early stages of recovery.
A potential breakout above the 23.6% Fibonacci retracement level is anticipated, closing the gap to $1.
This breakout could set up a structural framework for ADA's price to approach the 61.8% Fibonacci level at $2
KEY LEVELS :
RESISTANCE LEVEL : $0.6550-$0.6800
SUPPORT LEVEL : $0.6250-$0.6100
Disclaimer: Crypto is not regulated and can offer considerable risks. There may be no regulatory remedies available in the event of any losses resulting from price analysis. As a result, before engaging in any transactions involving crypto products, each investor must perform in-depth examination or seek independent advice.
