• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Bitcoin Casino ReviewsTry
No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Bitcoin Casino ReviewsTry
No Result
View All Result
NewsBTC
No Result
View All Result
Cardano (ADA)
Nexo Logo

Charted: Cardano (ADA) Rallies 20%, Why It Could Soon Break $1

Aayush Jindal by Aayush Jindal
1 year ago
in ADA
Reading Time: 2 mins read
Advertisement

Cardano’s price started a strong surge above $0.7000 and $0.8000. ADA is consolidating gains and it is likely to continue higher above the $1.00 resistance.

  • ADA started a strong surge above the $0.6500 and $0.7000 resistance levels against the US dollar.
  • The price is now trading well above $0.8500 and the 100 simple moving average (4-hours).
  • There is a key bullish trend line forming with support near $0.8250 on the 4-hours chart of the ADA/USD pair (data source from Bitfinex).
  • The pair is likely to continue higher above $0.9500 and $0.9800 in the coming sessions.

Cardano (ADA) is Surging

In the past few days, cardano’s price started a strong rally after it settled above $0.5000. ADA price rallied significantly and it broke many important hurdles near $0.6500 and $0.7200, outperforming bitcoin.

The bulls gained strength above $0.8000 and it traded to a new yearly high at $0.9518. It is now trading well above $0.8500 and the 100 simple moving average (4-hours). It also tested the 23.6% Fib retracement level of the recent rally from the $0.7485 low to $0.9518 high.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

The next major support is near the $0.8500 level. It is close to the 50% Fib retracement level of the recent rally from the $0.7485 low to $0.9518 high.

Cardano (ADA)

Source: ADAUSD on TradingView.com

There is also a key bullish trend line forming with support near $0.8250 on the 4-hours chart of the ADA/USD pair. On the upside, the $0.9500 level is a major hurdle. The main resistance is now near the $1.00 level.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

A successful break above the $0.9500 and $1.00 resistance levels may possibly lead the price further higher. In the stated case, it could even test $1.20.

Dips Supported?

If cardano’s price fails to clear the $0.9500 and $0.1000 resistance levels, it could correct lower. An initial support is near the $0.8500 level.

The main support is now forming near the $0.8200 level and the trend line zone. A clear break below the trend line support may possibly push the price lower towards the $0.7200 support level in the coming session. Any more losses could encourage the bears for a test of the $0.6500 level.

Read our comparison of 50 different crypto casinos. Find out who has most generous bonuses, best UX, knowledgeable customer support and best provably fair games.

Technical Indicators

4-hours MACD – The MACD for ADA/USD is clearly gaining strong momentum in the bullish zone.

4-hours RSI (Relative Strength Index) – The RSI for ADA/USD is currently in the overbought zone.

Major Support Levels – $0.9000, $0.8500 and $0.8250.

Major Resistance Levels – $0.2750, $0.2800 and $0.3000.

Tags: adabtcadausdADAUSDTCardano
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Aayush Jindal

Aayush Jindal

Aayush is a Senior Forex, Cryptocurrencies and Financial Market Strategist with a background in IT and financial markets. He specialises in market strategies and technical analysis, and has spent over a DECADE as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the currency, commodities, Bitcoin and Ethereum markets.

Related Posts

ADA

ADA Up 22% In Last 7 Days; Remains On Track To Test $0.6 Barrier

1 week ago
cardano

Why Cardano (ADA) May Breakout In A Bull Run To $1

2 weeks ago
cardano

Cardano (ADA) Price Remains Low Despite Buzz Around Vasil Hard Fork

4 weeks ago
Cardano

Cardano (ADA) Looks To Recover After Sliding To $0.43 – Pressure’s On For The Bulls

1 month ago
Cardano

Cardano (ADA) Could Slide Back To $0.40 – But $0.68 Still Doable

3 months ago
Cardano (ADA)

ADA On Discount? Cardano Whales Go On $200M Shopping Spree

3 months ago

Premium Partners

Top Brokers

PrimeXBT

PrimeXBT

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
7BitCasino

7BitCasino

Review · Visit
Punt Casino

Punt Casino

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bspin

Bspin

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

LBank Weekly Listing Report, 8th August 2022

August 9, 2022

LBank Exchange Will List cheqd (CHEQ) on August 10, 2022

August 9, 2022

LBank Exchange Will List Voice Street Token (VST) on August 15, 2022

August 9, 2022

LBank Exchange Will List Rare Fnd (FND) on August 9, 2022

August 9, 2022

The Main Reason Why GNOX (GNOX) Could Flip Dogecoin (DOGE) And Shiba Inu (SHIB) In 2023

August 8, 2022

ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2021 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play Games
  • Bet & Win
  • Bitcoin Casino Reviews

© 2021 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.