Cardano price is trading nicely in an uptrend against the US Dollar, similar to bitcoin. ADA price could rise further towards the key $0.0500 resistance in the near term.
Cardano Price Analysis
In the past few days, cardano price started a decent increase from the $0.0320 support area against the US Dollar. The ADA/USD pair jumped above the key $0.0350 resistance and the 55 simple moving average (4-hours) to move into a positive zone.
Moreover, there was a close above the $0.0355 level and the price recently traded close to the $0.0385 resistance. A high is formed near $0.0385 and the price is currently consolidating.
It traded below the 23.6% Fibonacci retracement level of the recent wave from the $0.0365 low to $0.0385 high. The main support on the downside starts with the $0.0375 level. Read More...