Cardano (ADA) Price Analysis and Key Levels
Cardano (ADA), one of the popular altcoins of 2021, is trading well below the $3 peak.
ADA's Performance and Resistance Levels
The ADA price is traded above $0,640 and is above the 100 simple moving average on the 4-hour chart. It is observed that ADA's uptrend continues and the bull market is effective.
Reasons for the Increase in ADA Price
The rise in the price of Cardano depends on the previously created solid base of $0.5650 and rising above resistance levels.Although resistance above $0.650 does not exceed, ADA appears to continue to trade above the $0.640 and 100 simple moving average.
According to technical indicators, the RSI for ADA/USD pair is above the 50 level and the MACD is losing momentum in the bullish zone. These indicators support the current state of ADA.
Critical Levels for $ADA
While the $0.6350 support level is expected to be maintained, the $0.6220 level stands out as a significant breaking point. If this support is broken, there may be a decline towards $0.600. If ADA rises, resistance levels of 0.6750, 0.6920 and $0.7000 can be targeted. DYOR
