Director of African Operations at IOG: I Found A Million Users to Bring Onto Cardano
AI Trading

The price of Cardano’s native token ADA has clearly surged beyond the $0.088 support level but needs to break above $0.098 and $0.100 to print a major rally.

In the past few days, the price of Cardano (ADA), the 10th largest cryptocurrency by market capitalization, has followed a bearish path from above $0.105.

The price of the digital token further settled below the $0.100 support and 100 simple moving average. The price dip further gained momentum below the $0.095 support level before the resurgence of the bulls around the $0.088 price level.

Read Also: Crypto Analyst Identifies the Key Level XRP Must Attain To Print Its Long-Awaited Bull Run

AI Trading

Cardano Price: Resistance ADA Must Huddle To Boost of a Fresh Rally

Source: ADAUSD on Trading View

A new monthly low is formed near $0.0882 and the price is currently correcting higher. It recovered above the $0.0920 and $0.0935 levels.

It is also of note that there is a crucial bearish trend line forming with resistance near $0.0960 on the 4-hours chart of the ADA/USD pair.

The trend line is close to the 61.8% Fib retracement level of the downward move from the $0.0999 high to the $0.0882 low.

A break above the trend line resistance and $0.096 could push the price towards the next key resistance at $0.100 and 100 simple moving average.

In order to continue the positive trend, ADA price must break and maintain its footing above the $0.100 resistance level.

The next notable resistance levels stand at $0.1072 and $0.1120. At the time of writing, ADA is trading at $0.094855, with a 0.64% price uptrend in the last 24 hours.

Read Also: Cardano (ADA) You Keep On Crypto Exchanges Don’t Belong To You –User Buttresses His Viewpoint

Possible Trend for Cardano (ADA) Price

There is a possibility for a fresh decline if Cardano (ADA) fails to break above $0.0960 and $0.1000 resistance levels. Considering the current price of ADA, its initial support is near $0.092.

The main support is currently forming near $0.0900 and $0.0880. So, a clear break below $0.0880 support level may initiate a price plunge towards $0.0820.

AI Trading produces top quality content for crypto companies. We provide brand exposure for hundreds of companies. All of our clients appreciate our services. If you have any questions you may contact us. Cryptocurrencies and Digital tokens are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by our authors and the views expressed in them do not reflect the views of this website. Herald Sheets is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. Read full terms and conditions / disclaimer.

Tobi Loba

By Tobi Loba

Tobi-Loba is a creative and an award-winning writer with over 5 million readers from all over the world. She has B.A in English and Literature from a reputable University and currently studying for her M.A in the same field. She recently became a contributor at Herald Sheets in order to satisfy her thirst in reporting crypto and blockchain occurrences, the interest she built over the years.