CandleFocus Cardano (ADA) Gains Traction: Is More Upside Ahead?
2024-09-12
Author: Content Editor
Cardano (ADA) has experienced a decent increase in price, surpassing resistance levels at $0.340. The cryptocurrency is exhibiting positive signs and may continue to rise towards $0.380. Cardano formed a base above $0.330, breaking a key bearish trend line and reaching a high of $0.3587. Currently, the price is consolidating gains above $0.350 and the 100-hourly simple moving average. On the upside, resistance levels lie at $0.3580, $0.3620, and $0.3650, with a potential strong rally if the $0.3650 resistance is surpassed. However, if the price fails to break above $0.3580, it could lead to a decline. Support levels exist at $0.350 and $0.3440, with a break below the latter potentially pushing the price towards $0.330. The hourly MACD is showing bullish momentum, and the RSI is above the 50 level. Major support levels are at $0.3500 and $0.3440, while major resistance exists at $0.3580 and $0.3650.
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