Cardano’s price surged above the main $0.1000 resistance level and started a strong increase. ADA is likely to continue higher towards $0.1250 in the coming days.
- ADA is showing positive signs and it is now trading well above $0.1000 against the US dollar.
- The price cleared the $0.1120 resistance and trading above the 100-day simple moving average.
- There was a break above a significant bearish trend line with resistance near $0.0965 on the daily chart of the ADA/USD pair (data source from Bitfinex).
- The pair is likely to continue higher towards the $0.1250 and $0.1280 resistance levels.
Cardano (ADA) is Gaining Bullish Momentum
This past month, cardano’s price started a fresh increase from the $0.0755 low. ADA cleared the $0.0880 and $0.0950 resistance levels to move into a positive zone.
The upward move gained pace after there was a break above a significant bearish trend line with resistance near $0.0965 on the daily chart of the ADA/USD pair. There was also a break above the 50% Fib retracement level of the key decline from the $0.1280 high to $0.0755 low.
Cardano cleared the $0.1120 resistance and trading above the 100-day simple moving average. An immediate resistance is near the $0.1155 level. It is close to the 76.4% Fib retracement level of the key decline from the $0.1280 high to $0.0755 low.
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