ADA Price Set to Soar: Bulls Eye Fresh Highs of $0.40

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• Cardano (ADA) price is trading above $0.320 and the 55 simple moving average (4-hours).
• There is a key contracting triangle forming with resistance near $0.350 on the 4-hours chart.
• A clear move above the $0.350 resistance might start a strong increase, perhaps towards the $0.368 resistance.

Cardano Price Analysis

Cardano price is showing positive signs above $0.320 against the US Dollar, similar to bitcoin. ADA price could gain bullish momentum if it clears the $0.350 resistance.

Resistance Levels

An immediate resistance for cardano is near the $0.344 zone, which is close to the 50% Fib retracement level of the downward move from the $0.3579 swing high to $0.33171 low. The next major resistance is near the $0.350 level, where there is a key contracting triangle forming with resistance on the 4-hours chart (data feed via Coinbase).

Support Levels

If cardano moves lower, an immediate support will be found near at around $0.332 level or possibly even lower at around $0.320 mark which could send ADA towards its next major support at around the$ 0