Rally

Cardano

Bitcoin

Resistance

Cardano (ADA) is moving higher from the $0.350 support. ADA could rally if there is a clear move above the $0.388 and $0.395 resistance levels. 
<ul> 
 <li>ADA price is moving higher above the $0.375 pivot level.</li> 
 <li>The price is trading above $0.380 and the 100 simple moving average (4 hours).</li> 
 <li>There is a key bullish trend line forming with support near $0.370 on the 4-hour chart of the ADA/USD pair (data source from Kraken).</li> 
 <li>The pair could accelerate higher toward the $0.420 level or even $0.450.</li> 
</ul> 
<h2 id="cardano-price-rally-could-soon-restart">Cardano Price Rally Could Soon Restart</h2> 
After a steady increase, Cardano saw a downside correction from the $0.4090 zone. There was a drop below the $0.395 and $0.388 support levels, like <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-regains-strength-40k/" target="_blank" rel="noopener ">Bitcoin</a> and <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-rally-in-jeopardy-2020/" target="_blank" rel="noopener ">Ethereum</a>. 
However, the bulls were active near the $0.350 support zone. A low was formed near $0.3494 and the price is now moving higher. There was a break above the $0.365 and $0.375 resistance levels. The price climbed above the 50% Fib retracement level of the downward move from the $0.4090 swing high to the $0.3494 low. 
ADA is now trading above $0.375 and the 100 simple moving average (4 hours). There is also a key bullish trend line forming with support near $0.370 on the 4-hour chart of the ADA/USD pair. 
<a href="https://www.newsbtc.com/wp-content/uploads/2023/11/Cardano-ADA-2.png?resize=1024%2C468"><img loading="lazy" decoding="async" class="alignnone size-full wp-image-561458" src="https://www.newsbtc.com/wp-content/uploads/2023/11/Cardano-ADA-2.png?resize=1024%2C468" alt="ADA Price" width="1024" height="468" srcset="https://www.newsbtc.com/wp-content/uploads/2023/11/Cardano-ADA-2.png?resize=1024%2C468?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2023/11/Cardano-ADA-2.png?resize=1024%2C468?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2023/11/Cardano-ADA-2.png?resize=1024%2C468?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2023/11/Cardano-ADA-2.png?resize=1024%2C468?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2023/11/Cardano-ADA-2.png?resize=1024%2C468?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2023/11/Cardano-ADA-2.png?resize=1024%2C468?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2023/11/Cardano-ADA-2.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> 
On the upside, immediate resistance is near the $0.3880 zone or the 61.8% Fib retracement level of the downward move from the $0.4090 swing high to the $0.3494 low. The first resistance is near $0.395. 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. Any more gains might call for a move toward $0.450. 
<h2 id="are-dips-supported-in-ada">Are Dips Supported in ADA?</h2> 
If Cardano’s price fails to climb above the $0.388 resistance level, it could start a downside correction. Immediate support on the downside is near the $0.370 level and the trend line. 
The next major support is near the $0.365 level and the 100 hourly SMA. A downside break below the $0.365 level could open the doors for a test of $0.350. The next major support is near the $0.335 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 – $0.370, $0.365, and $0.350. 
Major Resistance Levels – $0.388, $0.395, and $0.420.

ADA Price (Cardano) Breaking This Confluence Resistance Could Restart Rally

Table of Contents

NewsBTC

Other articles published on Nov 20, 2023

Tether and OKX announce the largest-ever USDT freeze

Bernstein Expects a Fourfold Increase in Bitcoin Price! Here's That Date!

Bitcoin Hash Surge Boosts Miner Profits Amid ASIC Sales Boom

Major Banks Invest in Crypto Assets: XRP Stands Out

Terra (LUNA) Price Predictions: Understanding The Dynamics

Zcash Price Prediction: Expert Analysis and Forecast for ZEC’s Future

Join our free newsletter for daily crypto updates!