Cardano

Rally

Bitcoin

Resistance

Cardano (ADA) is gaining pace above the $0.350 resistance. ADA is showing heavy bullish signs and might rally toward $0.400 or even $0.420. 
<ul> 
 <li>ADA price outperformed Bitcoin and rallied above the $0.350 resistance.</li> 
 <li>The price is trading above $0.350 and the 100 simple moving average (4 hours).</li> 
 <li>There is a key bullish trend line forming with support near $0.3505 on the 4-hour chart of the ADA/USD pair (data source from Kraken).</li> 
 <li>The pair could accelerate higher toward the $0.400 level or even $0.420.</li> 
</ul> 
<h2 id="cardano-price-rally-seems-far-from-over">Cardano Price Rally Seems Far From Over</h2> 
In the past few days, Cardano saw a decent increase from the $0.2850 support. It is up over 20% and broke many hurdles near the $0.350 resistance zone, outperforming <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-breaks-36k/" target="_blank" rel="noopener ">Bitcoin</a> and <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-primed-2000/" target="_blank" rel="noopener ">Ethereum</a>. 
The upward move was such that the price spiked toward $0.3750. A high was formed near $0.3755 before there was a downside correction. The price declined below the $0.3550 support. It spiked below the 23.6% Fib retracement level of the upward move from the $0.2845 swing low to the $0.3755 high. 
However, the bulls were active above the $0.3400 zone. There is also a key bullish trend line forming with support near $0.3505 on the 4-hour chart of the ADA/USD pair. 
<a href="https://www.newsbtc.com/wp-content/uploads/2023/11/Cardano-ADA-1.png?resize=1024%2C468"><img loading="lazy" decoding="async" class="alignnone size-full wp-image-559850" src="https://www.newsbtc.com/wp-content/uploads/2023/11/Cardano-ADA-1.png?resize=1024%2C468" alt="ADA Price Prediction" width="1024" height="468" srcset="https://www.newsbtc.com/wp-content/uploads/2023/11/Cardano-ADA-1.png?resize=1024%2C468?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2023/11/Cardano-ADA-1.png?resize=1024%2C468?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2023/11/Cardano-ADA-1.png?resize=1024%2C468?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2023/11/Cardano-ADA-1.png?resize=1024%2C468?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2023/11/Cardano-ADA-1.png?resize=1024%2C468?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2023/11/Cardano-ADA-1.png?resize=1024%2C468?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2023/11/Cardano-ADA-1.png?resize=1024%2C468?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"></a> 
Source: <a href="https://www.tradingview.com/symbols/ADAUSD/" target="_blank" rel="noopener nofollow">ADAUSD on TradingView.com</a> 
ADA is now trading above $0.350 and the 100 simple moving average (4 hours). On the upside, immediate resistance is near the $0.3750 zone. The first resistance is near $0.380. The next key resistance might be $0.400. If there is a close above the $0.400 resistance, the price could extend its rally. In the stated case, the price could rise toward the $0.420 region. 
<h2 id="are-dips-limited-in-ada">Are Dips Limited in ADA?</h2> 
If Cardano’s price fails to climb above the $0.3750 resistance level, it could start a downside correction. Immediate support on the downside is near the $0.3550 level. 
The next major support is near the $0.350 level and the trend line. A downside break below the $0.350 level could open the doors for a test of the 50% Fib retracement level of the upward move from the $0.2845 swing low to the $0.3755 high at $0.3300. The next major support is near the $0.3080 level. 
Technical Indicators 
4 hours MACD – The MACD for ADA/USD is gaining momentum in the bullish zone. 
4 hours RSI (Relative Strength Index) – The RSI for ADA/USD is now above the 50 level. 
Major Support Levels – $0.355, $0.350, and $0.330. 
Major Resistance Levels – $0.375, $0.400, and $0.420.

ADA Price Prediction – Cardano Could See “Face Ripping” Rally

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