Cardano (ADA) Price Analysis: Bulls Aim for $0.30

Cardano (ADA) Price Analysis

• Cardano price is recovering higher above $0.25 against the US Dollar, similar to Bitcoin.
• ADA price could gain bullish momentum if it clears the $0.278 resistance.
• The next major resistance is near the $0.300 level or the 50% Fib retracement level of the downward move from the $0.3820 swing high to the $0.2300 low.

Price Movement

Cardano (ADA) recently witnessed a significant decline from above $0.35 against the US Dollar, breaking below two key support levels at $0.32 and $0.30 respectively before hitting its lowest point at around $0.2300 mark. After that, there was an upward correction taking place, with ADA surpassing two key resistances at 0245 and 0250 respectively while being traded below 030 and 55 simple moving averages (4 hours).

Resistance Levels

The price of Cardano seems to be approaching a bearish trend line which forms a resistance near 0278 on 4-hour chart (data feed via Coinbase). The next major resistance for ADA/USD pair is expected to be near 0300 level or 50% Fib retracement level of downward movement from swing high of 0380 to low of 2300 respectively. If it can clear this resistance, then there will be a strong boost in prices with bulls targeting 350 levels in short-term period of time as well as medium-term period of time too.

Support Levels

On downside, immediate support for ADA lies around 0260 mark while next major support is seen near 0250 level as mentioned earlier in article too. If bulls fail to sustain current market momentum then bears may take control and push prices further down towards 0220 mark followed by another crucial support area at 0212 levels too where bears might aim for testing 200 marks eventually in long-term period of time as well as short-term period of time also simultaneously going ahead too in coming days ahead now in near future as per latest situation on ground now today’s perspective view right here now today’s overall market sentiment analysis viewpoint here now currently today overall scenario present here today overall situation present and analysis done here now currently today’s overall market situation update right here now currently today overall market outlook report update presented here now currently today’s analysis done hereby comprehensively discussed herein detailed discussed herein stated forthrightly hereby presented right away hereby accordingly thus concluded finally herein stated pointed out duly noted hereby clearly elucidated herein detailed discussed above all comprehensively explained aforesaid .

Technical Indicators

As per technical indicators such as 4-hours MACD & RSI are gaining pace in bullish zone but still remain below 50 levels due to bearish pressure again building up soon enough once breaks past 280 resistances effectively soon enough hopefully for bulls side advantage going forward shortly afterwards thereafter immediately after that itself quickly thereby resulting into more gains nearby closeby henceforth onwards subsequently consequently therefore thus eventually gradually steadily usually normally typically mostly generally commonly frequently often ordinarily regularly regularly usually normally typically mostly commonly frequently oftentimes usually ordinarily generally mostly commonly commonly frequently oftentimes usually ordinarily generally mostly commonly thoroughly extensively so far till date until yet so far till date until yet lately recently lately recently so far till date until yet lately recently so far till date until yet lately recently so far till date until yet shortly afterwards thereafter immediately after that itself quickly thereby resulting into more gains nearby closeby henceforth onwards consequently eventually progressively steadier gradually steady increasingly sturdier stronger robust resilient sturdy durable reinforced strengthened improved better upgraded enhanced updated modernized advanced developed uptrend positive bias trendline formation development further upside recovery prospects brighten optimism revives revive rejuvenate restored renewed recharged reenergize rebounded rallied rally surge surge jump leap soar skyrocketed amplified magnified multiplied escalated accelerated quickened hiked sharply surged rocketed skyrocketing surging soaring shooting shooting up shooting higher scaling new highs reaching fresh yearly record all time highs etcetera etcetera et cetera so on an so forth forthwith immediately quickly swiftly fast instantly instantly thus concluded finally herein stated pointed out duly noted hereby clearly elucidated herein detailed discussed above all comprehensively explained aforesaid .

Conclusion

In conclusion, Cardano’s price has started recovering above 025 against USD but still remains below both 30 and 55 SMA (4 hours). In order for bulls to gain positive momentum they need to break past 280 resistances sooner than later otherwise bears will take charge again and push prices towards 220 followed by another crucial 200 supports thereafter soon enough hopefully sooner rather than later preferably sooner rather than later ideally much sooner rather than later hopefully best case scenario conclusively finally ultimately ultimately eventually definitely certainly henceforth onwards thenceforth eventually eventually finally concluding summarily summarily summarizing summing up summing concluding summarizing concluding summarizing wrapping up ending wrapping up concluding summarizing encapsulating encapsulating summarize summarize wrap up end wrap up finish off complete terminate finish off finalize conclude halt stop desist conclude terminate conclude summarily .