🔥 Cardano on the Edge Will $ADA Break Free and Rally Hard?

Above $0.7250, Cardano price rose again. ADA is consolidating and encountering obstacles at $0.760.

ADA price rose over $0.7250 and $0.7320.
The price is above $0.740 and the 100-hour SMA.

The hourly ADA/USD paiR chart shows a bearish trend line with resistance at $0.7580.

If it breaks $0.760, the pair might rise again.

Cardano Price Could Rise

Cardano rose from $0.710 in recent days, although it lagged Bitcoin and Ethereum. ADA cleared $0.7250 and $0.7320 resistance.

The price crossed the 50% Fib retracement level of the latest slide from $0.7762 swing high to $0.7110 low. But the price is nearing two important upward obstacles, beginning with $0.7580. On the hourly ADA/USD chart, a negative trend line with resistance at $0.7580 is formed.

Cardano is above $0.740 and the 100-hour SMA. Price may find resistance at $0.7580 and the trend line on the upward.

First resistance is $0.760, the 76.4% Fib retracement of the latest slide from $0.7762 swing high to $0.7110 low. The next hurdle may be $0.7720. A closing above $0.7720 barrier might spark a powerful surge. In this situation, the price may reach $0.80. More increases may lead to $0.8250 soon.

Another ADA Decline?
Cardano's price might fall again if it fails to break $0.760. Near $0.7420 is immediate downside support.

Near $0.7260 is the next important support. A drop below $0.7260 might test $0.710. The next significant support is $0.680, where bulls may appear.

Tech Indicators

Hourly ADA/USD MACD is rising in the positive zone.

Hourly RSI - ADA/USD's RSI is over 50.

Key Support Levels: $0.7420, $0.7260.

Major resistance levels: $0.7600, $0.8000.

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