{"id":34189,"date":"2023-12-15T05:52:43","date_gmt":"2023-12-15T09:52:43","guid":{"rendered":"https:\/\/cryptocornercafe.com\/cafe\/?p=34189"},"modified":"2023-12-15T05:52:43","modified_gmt":"2023-12-15T09:52:43","slug":"ada-price-surges-over-35-in-few-days-can-bulls-pump-cardano-to-1","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/12\/15\/ada-price-surges-over-35-in-few-days-can-bulls-pump-cardano-to-1\/","title":{"rendered":"ADA Price Surges Over 35% In Few Days, Can Bulls Pump Cardano To $1?"},"content":{"rendered":"

Cardano (ADA) is gaining pace above the $0.60 resistance. ADA could rally further if there is a clear move above the $0.685 and $0.700 resistance levels.<\/em><\/p>\n

ADA price is moving higher above the $0.600 pivot level.
\nThe price is trading above $0.620 and the 100 simple moving average (4 hours).
\nThere is a key bullish trend line forming with support near $0.6020 on the 4-hour chart of the ADA\/USD pair (data source from Kraken).
\nThe pair could accelerate higher toward the $0.800 level or even $1.00 in the coming weeks.<\/p>\n

Cardano Price Starts Fresh Rally<\/h2>\n

After forming a base above the $0.500 level, Cardano started a steady increase. There was a break above the $0.550 and $0.600 resistance levels, outperforming Bitcoin<\/a> and Ethereum<\/a>.<\/p>\n

ADA cleared many hurdles and even spiked above $0.680. A new multi-week high was formed near $0.6802 and the price is now consolidating gains. There was a minor decline below the 23.3% Fib retracement level of the upward move from the $0.5220 swing low to the $0.6802 high.<\/p>\n

ADA is now trading above $0.500 and the 100 simple moving average (4 hours). There is also a key bullish trend line forming with support near $0.6020 on the 4-hour chart of the ADA\/USD pair. The trend line is close to the 50% Fib retracement level of the upward move from the $0.5220 swing low to the $0.6802 high.<\/p>\n

<\/a><\/p>\n

Source: ADAUSD on TradingView.com<\/a><\/p>\n

On the upside, immediate resistance is near the $0.660 zone. The first resistance is near $0.685. 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 $0.80 region. Any more gains might call for a move toward $1.00.<\/p>\n

Are Dips Limited in ADA?<\/h2>\n

If Cardano\u2019s price fails to climb above the $0.685 resistance level, it could start a downside correction. Immediate support on the downside is near the $0.6200 level.<\/p>\n

The next major support is near the $0.600 level and the trend line. A downside break below the $0.600 level could open the doors for a test of $0.5550. The next major support is near the $0.5220 level.<\/p>\n

Technical Indicators<\/p>\n

4 hours MACD \u2013 The MACD for ADA\/USD is losing momentum in the bullish zone.<\/p>\n

4 hours RSI (Relative Strength Index) \u2013 The RSI for ADA\/USD is now above the 50 level.<\/p>\n

Major Support Levels \u2013 $0.620, $0.600, and $0.555.<\/p>\n

Major Resistance Levels \u2013 $0.685, $0.700, and $0.800.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Cardano (ADA) is gaining pace above the $0.60 resistance. ADA could rally further if there is a clear move above the $0.685 and $0.700 resistance levels.<\/em><\/p>\n

ADA price is moving higher above the $0.600 pivot level.
\nThe price is trading above $0.620 and the 100 simple moving average (4 hours).
\nThere is a key bullish trend line forming with support near $0.6020 on the 4-hour chart of the ADA\/USD pair (data source from Kraken).
\nThe pair could accelerate higher toward the $0.800 level or even $1.00 in the coming weeks.<\/p>\n

Cardano Price Starts Fresh Rally<\/h2>\n

After forming a base above the $0.500 level, Cardano started a steady increase. There was a break above the $0.550 and $0.600 resistance levels, outperforming Bitcoin<\/a> and Ethereum<\/a>.<\/p>\n

ADA cleared many hurdles and even spiked above $0.680. A new multi-week high was formed near $0.6802 and the price is now consolidating gains. There was a minor decline below the 23.3% Fib retracement level of the upward move from the $0.5220 swing low to the $0.6802 high.<\/p>\n

ADA is now trading above $0.500 and the 100 simple moving average (4 hours). There is also a key bullish trend line forming with support near $0.6020 on the 4-hour chart of the ADA\/USD pair. The trend line is close to the 50% Fib retracement level of the upward move from the $0.5220 swing low to the $0.6802 high.<\/p>\n

<\/a><\/p>\n

Source: ADAUSD on TradingView.com<\/a><\/p>\n

On the upside, immediate resistance is near the $0.660 zone. The first resistance is near $0.685. 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 $0.80 region. Any more gains might call for a move toward $1.00.<\/p>\n

Are Dips Limited in ADA?<\/h2>\n

If Cardano\u2019s price fails to climb above the $0.685 resistance level, it could start a downside correction. Immediate support on the downside is near the $0.6200 level.<\/p>\n

The next major support is near the $0.600 level and the trend line. A downside break below the $0.600 level could open the doors for a test of $0.5550. The next major support is near the $0.5220 level.<\/p>\n

Technical Indicators<\/p>\n

4 hours MACD \u2013 The MACD for ADA\/USD is losing momentum in the bullish zone.<\/p>\n

4 hours RSI (Relative Strength Index) \u2013 The RSI for ADA\/USD is now above the 50 level.<\/p>\n

Major Support Levels \u2013 $0.620, $0.600, and $0.555.<\/p>\n

Major Resistance Levels \u2013 $0.685, $0.700, and $0.800.<\/p>\n

<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-34189","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/34189","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=34189"}],"version-history":[{"count":1,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/34189\/revisions"}],"predecessor-version":[{"id":34195,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/34189\/revisions\/34195"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=34189"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=34189"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=34189"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}