Cardano (ADA) Uptrend Challenges: Will Bulls Break Through?

Cardano started a downtrend from $1.1780. ADA is consolidating and faces $1.180–$1.200 obstacles.

ADA price rose from $0.910 support.
The price is above $1.050 and the 100-hour SMA.

On the hourly ADA/USD chart, a significant bearish trend line with resistance at $1.160 is forming.

The pair might rise again if it breaks $1.180 barrier.


Cardano Price Could Rise

Cardano began a new rise like Bitcoin and Ethereum after building a base over $1.00. ADA broke through $1.050 and $1.120 barrier.

However, bears operated below $1.20. After hitting $1.1781, the price is stabilizing. Below $1.120, prices fell somewhat. The price fell below the 23.6% Fib retracement line of the $0.910 swing low to $1.1781 high.

Cardano is above $1.050 and the 100-hour SMA. Price may find resistance at $1.150 on the upside. On the hourly ADA/USD chart, a significant bearish trend line with resistance at $1.160 is forming.

Around $1.180 is the initial resistance. The next hurdle may be $1.20. A closing above $1.2 barrier might spark a powerful rise. In this situation, the price may reach $1.2280. More advances might lead to $1.250.

Another ADA decline?
If Cardano fails to break $1.180 barrier, it might fall again. Near $1.10750 is immediate downside support.

The next key support is $1.050, the 50% Fib retracement level of the bullish advance from $0.910 swing low to $1.1781 high. A drop below $1.050 might challenge $1.00. The next significant support is $0.920, where bulls may appear.

Tech Indicators

Hourly MACD in negative zone for ADA/USD.

Hourly ADA/USD RSI is below 50.

Major Support Levels: $1.070, $1.050.

Key Resistance Levels: $1.160, $1.180.

#Cardano #ADA #MarketMajorComeback #CPI4MonthsHigh $ADA