🔋 ADA Charging Again — Bullish Setup Points to Fresh Rally!
Cardano price rose from $0.7280. ADA is climbing and may break $0.80.
ADA price rose from $0.7280.
The price is below $0.80 and the 100-hour SMA.
ADA/USD broke over a significant bullish trend line with resistance at $0.7710 on the hourly chart.
If the pair breaks $0.80, it may rise again.
Cardano Price Expects Growth
Cardano, like Bitcoin and Ethereum, found support at $0.7280 after a severe fall. ADA began rising over $0.730 after forming a base.
It broke over $0.7450 and $0.7650 barrier. ADA/USD broke above a bullish trend line with resistance at $0.7710 on the hourly chart. Bulls broke the 23.6% Fib retracement barrier of the $0.8557 swing high to $0.7287 low.
Cardano is below $0.80 and the 100-hour SMA. The upswing may encounter resistance between $0.7920 and the 50% Fib retracement level of the bearish move from $0.8557 swing high to $0.7287 low.
Around $0.80 is the initial resistance. The next hurdle may be $0.8080. If price closes over $0.8080 barrier, it might surge strongly. In this situation, the price may reach $0.880. More increases may lead to $0.920 soon.
Another ADA Decline?
If Cardano fails to break $0.80 barrier, it might fall again. Near $0.770 is immediate downside support.
Near $0.7520 is the next important support. A drop below $0.7520 might challenge $0.7280. The next significant support is $0.70, 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: $0.7520, $0.7280.
Major resistance levels: $0.7920, $0.8000.
