Cardano

Rally

Bitcoin

Resistance

Cardano (ADA) is gaining pace above the $0.40 resistance. ADA could rally if there is a clear move above the $0.432 and $0.450 resistance levels. 
<ul> 
 <li>ADA price is moving higher above the $0.400 pivot level.</li> 
 <li>The price is trading above $0.415 and the 100 simple moving average (4 hours).</li> 
 <li>There is a key bullish trend line forming with support near $0.410 on the 4-hour chart of the ADA/USD pair (data source from Kraken).</li> 
 <li>The pair could accelerate higher toward the $0.500 level or even $0.550.</li> 
</ul> 
<h2 id="cardano-price-starts-steady-increase">Cardano Price Starts Steady Increase</h2> 
After forming a base above the $0.3750 level, Cardano started a steady increase. There was a break above the $0.388 and $0.400 resistance levels, but ADA lagged momentum like <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-surges-45k/" target="_blank" rel="noopener ">Bitcoin</a> and <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-prediction-2320/" target="_blank" rel="noopener ">Ethereum</a>. 
The price even climbed above the $0.420 resistance. A high was formed near $0.4293 and the price is now consolidating gains. It is trading above the 23.3% Fib retracement level of the upward move from the $0.3715 swing low to the $0.4293 high. 
ADA is now trading above $0.415 and the 100 simple moving average (4 hours). There is also a key bullish trend line forming with support near $0.410 on the 4-hour chart of the ADA/USD pair. 
<a href="https://www.newsbtc.com/wp-content/uploads/2023/12/Cardano-ADA.png?resize=1024%2C468"><img loading="lazy" decoding="async" class="alignnone size-full wp-image-564079" src="https://www.newsbtc.com/wp-content/uploads/2023/12/Cardano-ADA.png?resize=1024%2C468" alt="ADA Price" width="1024" height="468" srcset="https://www.newsbtc.com/wp-content/uploads/2023/12/Cardano-ADA.png?resize=1024%2C468?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2023/12/Cardano-ADA.png?resize=1024%2C468?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2023/12/Cardano-ADA.png?resize=1024%2C468?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2023/12/Cardano-ADA.png?resize=1024%2C468?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2023/12/Cardano-ADA.png?resize=1024%2C468?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2023/12/Cardano-ADA.png?resize=1024%2C468?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2023/12/Cardano-ADA.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 $0.4250 zone. The first resistance is near $0.432. The next key resistance might be $0.450. If there is a close above the $0.450 resistance, the price could start a strong rally. In the stated case, the price could rise toward the $0.50 region. Any more gains might call for a move toward $0.550. 
<h2 id="are-dips-supported-in-ada">Are Dips Supported in ADA?</h2> 
If Cardano’s price fails to climb above the $0.432 resistance level, it could start a downside correction. Immediate support on the downside is near the $0.4150 level. 
The next major support is near the $0.410 level and the trend line. A downside break below the $0.410 level could open the doors for a test of $0.388. The next major support is near the $0.372 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 – $0.415, $0.410, and $0.388. 
Major Resistance Levels – $0.432, $0.450, and $0.500.

ADA Price Claims $0.40 And Recovery Could Soon Turn Into Rally

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