💥 ADA Blasts Up 15% — Can Momentum Carry It Past $1?
Cardano price resumed rising from $0.80. ADA is increasing and may break $1.00.
From the $0.80 support zone, ADA price rose.
The price is above $0.950 and the 100-hour SMA.
On the hourly ADA/USD chart, a bullish trend line with support at $0.9350 is formed.
If it breaks $1.00 barrier, the pair might gain.
Cardano Price Expects Growth
After a severe dip, Cardano regained support at $0.7650 and began rising again, like Bitcoin and Ethereum. ADA beat $0.80 and $0.850 resistance.
Clear break over $0.850 and $0.950 barrier levels. Finally, the price approached $1.00. The price is stabilizing above the 23.6% Fib retracement line of the upward run from the $0.7653 swing low to the $0.9880 high.
Cardano is above $0.950 and the 100-hour SMA. On the hourly ADA/USD chart, a bullish trend line with support at $0.9350 is formed.
Price may find resistance at $0.9880 on the upside. Near $1.00 is the first resistance. The next hurdle may be $1.020. A closing above $1.020 barrier might spark a powerful surge. In this situation, the price may reach $1.120. More advances might lead to $1.150 soon.
Another ADA decline?
If Cardano fails to break $1.00 barrier, it might fall again. Near $0.960 is immediate downside support.
Near $0.9350 and the trend line is the next important support. A drop below $0.9350 might test $0.9120. The next significant support is $0.880, where bulls may appear.
Tech Indicators
Hourly ADA/USD MACD is rising in the positive zone.
Hourly ADA/USD RSI is over 50.
Major Support Levels: $0.960, $0.9350.
Major resistance levels: $0.9800, $1.00.