- ADA price rallied recently and broke the $0.0380 and $0.0400 resistance levels against the US Dollar.
- There was a break above a crucial bearish trend line with resistance at $0.0370 on the 4-hours chart (data feed via Kraken).
- A contracting triangle is formed with resistance at $0.0412 and support near $0.0400 on the same chart.
- The price could correct lower a few points, but it is likely to find support near the $0.0392 zone.
Cardano price gained bullish momentum recently against the US Dollar and Bitcoin. ADA is trading nicely above the $0.0400 and $0.0392 support levels, with chances of more gains.
Cardano Price Analysis
After consolidating above the $0.0365 support, cardano price declined towards $0.0355 against the US Dollar. The ADA/USD pair found a strong buying interest above the $0.0355 level and later bounced back. The price gained traction and rallied above the $0.0365 and $0.0380 resistance levels. There was a break above a crucial bearish trend line with resistance…
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