Earlier today, the price of Cardano (ADA) was trading fairly above the support at $0.0650 against the USD. On the hourly chart, a significant bullish trend line was formed with support at $0.0700. Cardano (ADA) price will most likely move above the $0.0740 and $0.0750 levels soon. The price of ADA was in the bullish zone this morning against the USD and against Bitcoin. It will most likely cross the resistances at $0.750 and $0.800.
Cardano (ADA) Price Against The USD
Cardano (ADA) price formed a base near $0.0620 after which it started moving upward. The cryptocurrency moved as high as $0.0650 and $0.0700 climbing all the way to $0.0744 before the bears kicked in. The price started falling all the way below the 50% Fib retracement level of the last wave from $0.0620 to $0.0744. The good news is that the fall in price was curbed at the $0.0660 support.
Cardano (ADA) Price Today – ADA / USD
The 61.8% Fib retracement level of the last wave from $0.0620 to $0.0744 also acted as support. There was a significant Bullish trend line that had support around $0.700. It also prevented declines below this level. The Cardano to USD pair will most likely take a few dips towards $0.0700 and even $0.0680. Upside, the resistance at $0.0750 will most likely be broken if the cryptocurrency is to trade higher against the USD.
Cardano (ADA) Price Now
At the time of writing, Cardano was trading at $0.072284. This indicates a 0.39% rise against the USD but a 0.36% fall against Bitcoin. Above $0.0700, ADA is trading positive. Breaking above the resistance at $0.750 will most likely open the doors for more gains upward. According to the technical indicators, the relative strength index is above 50 and the MACD on the hourly chart is entering the bullish territory. The significant resistance level is at $0.0750 while the significant support is at $0.0700.