-Price has formed an formation
-ADA must break the 100MA to continue revival
Cardano has fixed its spot in the top 10 cryptocurrencies for some time now. The ETH-like nature of ADA has many investors wondering if it may be a better option than ETH once all the network is live and running with features that are more scalable and cost effective than its competitor Ethereum . As of now, ADA is holding strong above its previous ATH set in 2018.
The price of ADA has formed an (green) the last 10 days. This pattern is generally once price breaks above the top horizontal line. This is right around $1. 40 . Once ADA manages to break and hold this mark, we can expect a push to high $1.40s.
In a view, Cardano has recently broke & confirmed a that has been holding the price down for nearly 45 days. Bulls have yet to clear the 100MA which has been acting as resistance for the past 3 weeks. Once price can clear and hold this MA, along with the $1. 40 resistance, ADA will be free for further revival. In the case that bears take control, support can be found at $1.30 & $1.26.
While viewing the , we can conclude there is much hesitation to both sides as price nears the end of its . A break above the 80 value will surely send ADA past the $1. 40 mark. The regular shows a similar story as it’s been ranging above and below the 50 mark. A break below the 50 value will likely end in a retracement to lower supports under $1.30.
ADA intraday levels
Spot rate: $1.34