ADA has experienced a significant surge, breaking beyond the descending parallel channel. This token is expected to maintain its upward momentum, potentially reaching highs above $0.360 at $0.370. It is worth noting that the 200-day MA levels are located at this point.
#Cardano has recently experienced a surge, surpassing the $0.330 resistance level. If it manages to break through the $0.350 resistance zone, ADA could continue to rise. Following a period of steady decline, Cardano's price found support near the $0.295 zone, hitting a low of $0.2976 before beginning a promising upward trend.
The crypto market has witnessed a significant surge in the price of a particular asset. The bulls have successfully pushed the price above the crucial resistance levels of $0.315 and $0.320, indicating a clear upward trend. Furthermore, the price has surpassed the 23.36% Fib retracement level, which is a positive sign for investors. This level is calculated from the main drop, which occurred between the $0.4213 swing high and the $0.2976 low. Currently, the Cardano price has exceeded the $0.330 resistance level and is aiming to reach beyond $0.350 by the end of the week.
The price of ADA has risen above $0.323 and the 21-day simple moving average, signalling a bullish trend. Today, the price has risen nearly 11%, indicating bullish signals comparable with Bitcoin and Ethereum.
Accordign to #priceanalysis , There is an immediate resistance at the $0.345 zone. Beyond that, the next major resistance is forming near the $0.357 zone, which is close to the 50% Fib retracement level of the main drop from the $0.4213 swing high to $0.2976 low. If the price manages to break above these resistance levels, it could potentially start a strong increase, with the price rising steadily towards the $0.400 level. It's worth noting that there may be an intermediate resistance at $0.420.
If Cardano's price fails to surpass the resistance levels of $0.348 and $0.350, it may initiate a new downward trend. In such a scenario, the immediate support level would be around $0.330, followed by a significant support level at $0.320. If the price falls below this level, it could lead to a further decline towards $0.300. The next major support level is at $0.288.
KEY LEVELS :
RESISTANCE LEVEL : $0.3450-$0.3550
SUPPORT LEVEL : $0.3270-$0.3200
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. However, it's crucial to do your own research #dyor and assess the risks involved before investing in any market.
