Cardano (ADA) Signals Recovery – Is a Strong Upside Move Ahead?

Cardano price started a fresh recovery from the $0.780 ￰0￱ is now rising and might attempt a clear move above the $0.840 ￰1￱ price started a decent upward move from the $0.780 support ￰2￱ price is trading above $0.8120 and the 100-hourly simple moving ￰3￱ was a break above a short-term contracting triangle with resistance at $0.8250 on the hourly chart of the ADA/USD pair (data source from Kraken). The pair could extend gains if it clears the $0.840 resistance ￰4￱ Price Eyes Steady Increase After a sharp decline, Cardano found support near the $0.780 zone and started a recovery wave, like Bitcoin and ￰5￱ was able to surpass the $0.80 and $0.8250 resistance levels.

Besides, there was a break above a short-term contracting triangle with resistance at $0.8250 on the hourly chart of the ADA/USD pair. Finally, the price traded close to the $0.840 level. A high was formed at $0.0.8395 and the price is now consolidating above the 23.6% Fib retracement level of the upward move from the $0.7822 swing low to the $0.8395 ￰6￱ price is now trading above $0.8250 and the 100-hourly simple moving ￰7￱ the upside, the price might face resistance near the $0.840 ￰8￱ first resistance is near $0.860. The next key resistance might be $0.90.

If there is a close above the $0.90 resistance, the price could start a strong ￰9￱ the stated case, the price could rise toward the $0.980 ￰10￱ more gains might call for a move toward $1.00 in the near ￰11￱ Decline In ADA? If Cardano’s price fails to climb above the $0.840 resistance level, it could start another ￰12￱ support on the downside is near the $0.0.8250 ￰13￱ next major support is near the $0.0.8180 level and the 50% Fib retracement level of the upward move from the $0.7822 swing low to the $0.8395 high. A downside break below the $0.8180 level could open the doors for a test of $0.780. The next major support is near the $0.750 level where the bulls might ￰14￱ Indicators Hourly MACD – The MACD for ADA/USD is gaining momentum in the bullish ￰15￱ RSI (Relative Strength Index) – The RSI for ADA/USD is now above the 50 ￰16￱ Support Levels – $0.8180 and $0.7800.

Major Resistance Levels – $0.8400 and $0.9000.