#CardanoSurge Bulls Push for Breakout—Next Sharp Rally?

From $0.620, Cardano price rose. ADA is consolidating near $0.70 and hopes to rise above $0.720.

ADA began a rebound from $0.650.

The price is above $0.680 and the 100-hour SMA.

On the hourly ADA/USD chart, a negative trend line connects to resistance at $0.7180.

The pair could rise again if it breaks $0.720 barrier.

Cardano Price Hits Resistance

Cardano, like Bitcoin and Ethereum, fell from $0.7350 in recent sessions. Below $0.720 and $0.70 support levels, ADA fell.

After a low at $0.6826, the price is rising. Price rose above $0.70. The price crossed the 50% Fib retracement level of the latest slide from $0.7338 swing high to $0.6826 low.

Cardano is above $0.680 and the 100-hour SMA. On the upside, resistance may be above $0.7150 and the 61.8% Fib retracement level of the recent slide from $0.7338 swing high to $0.6826 low.

On the hourly ADA/USD chart, a negative trend line connects to resistance at $0.7180. At $0.7250, resistance begins. The next hurdle may be $0.750.

The Cardano price is ADAUSD on TradingView.com.

If the price closes over $0.750 resistance, it could surge strongly. In this situation, the price may reach $0.780. More advances may lead to $0.80 soon.

Another ADA Drop?

If Cardano fails to break $0.7150 barrier, it could fall again. Near $0.70 is immediate downside support.

Near $0.680 is the next important support. A drop below $0.680 might touch $0.630. The next significant support is $0.6175, where bulls may appear.

Tech Indicators

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

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

Key Support Levels: $0.7000, $0.680.

Key Resistance Levels: $0.7150, $0.7340. $CAKE