Cardano

Bitcoin

Resistance

Cardano (ADA) is gaining pace above the $0.635 resistance zone. ADA is consolidating gains and might aim for more upsides above the $0.70 resistance. 
<ul> 
 <li>ADA price is holding gains and facing resistance near the $0.70 zone.</li> 
 <li>The price is trading above $0.640 and the 100 simple moving average (4 hours).</li> 
 <li>There is a key bullish trend line forming with support at $0.6350 on the 4-hour chart of the ADA/USD pair (data source from Kraken).</li> 
 <li>The pair could attempt a fresh increase if the bulls remain active above the $0.6220 support.</li> 
</ul> 
<h2 id="cardano-price-eyes-another-increase">Cardano Price Eyes Another Increase</h2> 
After forming a base above the $0.5650 level, Cardano started a fresh increase. ADA price was able to climb above the $0.600 and $0.6220 resistance levels to move into a positive zone, like <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-turns-attractive-60k/" target="_blank" rel="noopener ">Bitcoin</a> and <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-uptrend-3500/" target="_blank" rel="noopener ">Ethereum</a>. 
The bulls pushed the pair above the $0.650 resistance zone. However, the bears were active near the $0.700 resistance zone. A high was formed near $0.7084 and the price started a downside correction. There was a move below the $0.6750 level. 
The price declined below the 23.6% Fib retracement level of the upward wave from the $0.5685 swing low to the $0.7084 high. ADA price is now trading above $0.640 and the 100 simple moving average (4 hours). 
There is also a key bullish trend line forming with support at $0.6350 on the 4-hour chart of the ADA/USD pair. The trend line is near the 50% Fib retracement level of the upward wave from the $0.5685 swing low to the $0.7084 high. 
<a href="https://www.newsbtc.com/wp-content/uploads/2024/03/Cardano-ADA.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="alignnone size-full wp-image-590839" src="https://www.newsbtc.com/wp-content/uploads/2024/03/Cardano-ADA.png?resize=1024%2C461" alt="ADA Price Prediction" width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/03/Cardano-ADA.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/03/Cardano-ADA.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/03/Cardano-ADA.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/03/Cardano-ADA.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/03/Cardano-ADA.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/03/Cardano-ADA.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/03/Cardano-ADA.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> 
The bulls might remain active near the $0.6350 support. On the upside, immediate resistance is near the $0.6750 zone. The first resistance is near $0.692. 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 $0.750 region. Any more gains might call for a move toward $0.80. 
<h2 id="downside-correction-in-ada">Downside Correction in ADA?</h2> 
If Cardano’s price fails to climb above the $0.6750 resistance level, it could continue to move down. Immediate support on the downside is near the $0.6350 level. 
The next major support is near the $0.6220 level. A downside break below the $0.6220 level could open the doors for a test of $0.600. The next major support is near the $0.5680 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 – $0.6350, $0.6220, and $0.6000. 
Major Resistance Levels – $0.6750, $0.6920, and $0.7000.

ADA Price Prediction – Here’s Why Cardano Surge Is Far From Over

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