Cardano

Rally

Bitcoin

Resistance

Cardano (ADA) is gaining pace above the $0.60 resistance. ADA could rally further if there is a clear move above the $0.685 and $0.700 resistance levels. 
<ul> 
 <li>ADA price is moving higher above the $0.600 pivot level.</li> 
 <li>The price is trading above $0.620 and the 100 simple moving average (4 hours).</li> 
 <li>There is a key bullish trend line forming with support near $0.6020 on the 4-hour chart of the ADA/USD pair (data source from Kraken).</li> 
 <li>The pair could accelerate higher toward the $0.800 level or even $1.00 in the coming weeks.</li> 
</ul> 
<h2 id="cardano-price-starts-fresh-rally">Cardano Price Starts Fresh Rally</h2> 
After forming a base above the $0.500 level, Cardano started a steady increase. There was a break above the $0.550 and $0.600 resistance levels, outperforming <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-uptrend-43500/" target="_blank" rel="noopener ">Bitcoin</a> and <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-holds-2200/" target="_blank" rel="noopener ">Ethereum</a>. 
ADA cleared many hurdles and even spiked above $0.680. A new multi-week high was formed near $0.6802 and the price is now consolidating gains. There was a minor decline below the 23.3% Fib retracement level of the upward move from the $0.5220 swing low to the $0.6802 high. 
ADA is now trading above $0.500 and the 100 simple moving average (4 hours). There is also a key bullish trend line forming with support near $0.6020 on the 4-hour chart of the ADA/USD pair. The trend line is close to the 50% Fib retracement level of the upward move from the $0.5220 swing low to the $0.6802 high. <a href="https://www.newsbtc.com/wp-content/uploads/2023/12/Cardano-ADA-1.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="size-full wp-image-565492" src="https://www.newsbtc.com/wp-content/uploads/2023/12/Cardano-ADA-1.png?resize=1024%2C461" alt="Cardano Price ADA" width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2023/12/Cardano-ADA-1.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2023/12/Cardano-ADA-1.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2023/12/Cardano-ADA-1.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2023/12/Cardano-ADA-1.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2023/12/Cardano-ADA-1.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2023/12/Cardano-ADA-1.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2023/12/Cardano-ADA-1.png?resize=1024%2C461?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 $0.660 zone. The first resistance is near $0.685. The next key resistance might be $0.700. If there is a close above the $0.700 resistance, the price could start a strong rally. In the stated case, the price could rise toward the $0.80 region. Any more gains might call for a move toward $1.00. 
<h2 id="are-dips-limited-in-ada">Are Dips Limited in ADA?</h2> 
If Cardano’s price fails to climb above the $0.685 resistance level, it could start a downside correction. Immediate support on the downside is near the $0.6200 level. 
The next major support is near the $0.600 level and the trend line. A downside break below the $0.600 level could open the doors for a test of $0.5550. The next major support is near the $0.5220 level. 
Technical Indicators 
4 hours MACD – The MACD for ADA/USD is losing 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 – $0.620, $0.600, and $0.555. 
Major Resistance Levels – $0.685, $0.700, and $0.800.

ADA Price Surges Over 35% In Few Days, Can Bulls Pump Cardano To $1?

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