Cardano (ADA) Price Surging Higher, Likely To Surpass $0.1000

Cardano (ADA) Price Surging Higher, Likely To Surpass <img width=.1000" data-lazy-srcset="https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/05/Cardano-Price-2.png?w=1828&ssl=1 1828w, https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/05/Cardano-Price-2.png?resize=300%2C142&ssl=1 300w, https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/05/Cardano-Price-2.png?resize=768%2C365&ssl=1 768w, https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/05/Cardano-Price-2.png?resize=1024%2C486&ssl=1 1024w" data-lazy-sizes="(max-width: 1828px) 100vw, 1828px" data-lazy-src="https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/05/Cardano-Price-2.png?fit=1828%2C868&ssl=1&is-pending-load=1" srcset="data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7" />.1000"1828" height="868" src="https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/05/Cardano-Price-2.png?fit=1828%2C868&ssl=1" class="attachment-full size-full wp-post-image jetpack-lazy-image" alt="" data-lazy-srcset="https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/05/Cardano-Price-2.png?w=1828&ssl=1 1828w, https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/05/Cardano-Price-2.png?resize=300%2C142&ssl=1 300w, https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/05/Cardano-Price-2.png?resize=768%2C365&ssl=1 768w, https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/05/Cardano-Price-2.png?resize=1024%2C486&ssl=1 1024w" data-lazy-sizes="(max-width: 1828px) 100vw, 1828px" data-lazy-src="https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/05/Cardano-Price-2.png?fit=1828%2C868&ssl=1&is-pending-load=1" srcset="data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7" />.1000" data-lazy-srcset="https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/05/Cardano-Price-2.png?w=1828&ssl=1 1828w, https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/05/Cardano-Price-2.png?resize=300%2C142&ssl=1 300w, https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/05/Cardano-Price-2.png?resize=768%2C365&ssl=1 768w, https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/05/Cardano-Price-2.png?resize=1024%2C486&ssl=1 1024w" data-lazy-sizes="(max-width: 1828px) 100vw, 1828px" data-lazy-src="https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/05/Cardano-Price-2.png?fit=1828%2C868&ssl=1&is-pending-load=1" srcset="data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7" />


  • ADA price rallied recently and broke the key $0.0720 and $0.0770 resistances against the US Dollar.
  • The price tested the $0.0885 resistance and remains supported on the downside near $0.0800.
  • There is a major bullish trend line forming with support at $0.0804 on the 4-hours chart (data feed via Kraken).
  • The price is likely to continue higher and the bulls could aim a break above the $0.1000 barrier.

Cardano price climbed higher above the $0.0800 pivot level against the US Dollar, and recovered vs bitcoin. ADA is currently holding gains and it could soon break the $0.1000 barrier.

Cardano Price Analysis

After testing the $0.0600 support area, cardano price started a strong rally against the US Dollar. The ADA/USD pair gained more than 20% and broke many resistances such as $0.0650, $0.0720 and $0.0770. The upward move was strong as the price even broke $0.0800 and settled well above the 55 simple moving average (4-hours). Finally, there was a push towards the $0.0900 level and the price traded as high as $0.0883. Recently, it corrected below $0.0860 level and the 23.6% Fibonacci retracement level of the rally from the $0.0770 low to $0.0883 high.

The price tested the $0.0835 level and it is currently moving higher. On the downside, the $0.0835 may continue to act as a support. The next key support is near $0.0827 and the 50% Fibonacci retracement level of the rally from the $0.0770 low to $0.0883 high. Moreover, there is a major bullish trend line forming with support at $0.0804 on the 4-hours chart. As long as the price is above the trend line, it could climb above $0.0880 and $0.0900. The main barrier for the bulls could be $0.1000, above which the price may test $0.1080.

Conversely, if there is a break below the trend line and $0.0800, the price may decline towards the $0.0770 support area. If there is a downside extension, the next stop could be $0.0745. It represents the 1.236 Fib extension level of the rally from the $0.0770 low to $0.0883 high.

Cardano (ADA) Price Surging Higher, Likely To Surpass <img class=.1000"alignnone size-large wp-image-54146 jetpack-lazy-image" src="https://i2.wp.com/www.livebitcoinnews.com/https://s3.amazonaws.com/lbn-s3/2019/05/Cardano-Price-2-1100x522.png?resize=1100%2C522&ssl=1" alt="Cardano Price Analysis ADA Price Chart" width="1100" height="522" data-recalc-dims="1" data-lazy-src="https://i2.wp.com/www.livebitcoinnews.com/https://s3.amazonaws.com/lbn-s3/2019/05/Cardano-Price-2-1100x522.png?resize=1100%2C522&is-pending-load=1#038;ssl=1" srcset="data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7">.1000" width="1100" height="522" data-recalc-dims="1" data-lazy-src="https://i2.wp.com/www.livebitcoinnews.com/https://s3.amazonaws.com/lbn-s3/2019/05/Cardano-Price-2-1100x522.png?resize=1100%2C522&is-pending-load=1#038;ssl=1" srcset="data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7">

The chart indicates that ADA price is trading in a strong uptrend above $0.0825 and $0.0800. Therefore, there are high chances of more gains above the $0.0880 and $0.0900 levels. However, it won’t be easy for the bulls to gain strength above $0.0975 and $0.1000 if the price continues to rally. Above $0.1000, there could be a solid upside extension.

Technical Indicators

4 hours MACD – The MACD for ADA/USD is currently placed heavily in the bullish zone.

4 hours RSI – The RSI for ADA/USD is now well above the 65 level and it is moving towards 75.

Key Support Levels – $0.0825 and $0.0800.

Key Resistance Levels – $0.0880 and $0.1000.

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