ADA tries to break the resistance mark of USD 1.42 again
ADA tries to break the resistance mark of USD 1.42 again
Cardano has not managed to break the resistance level of USD again, but will probably test this level again, since the price has currently increased by less than 1% in the last few hours
The cryptocurrency market recovers a few hours after a slight break -in. Bitcoin was able to reach the $ 40,000 mark and its value has increased by less than 1% in the last 24 hours. Ether, Dogecoin and Binance Coin are also traded in a positive area, although they increase their value by less than 1%.
Cardano did not succeed yesterday to break the resistance mark at $ 1.42, with the cryptocurrency corrected downwards towards the $ 1.25 region. However, Ada tries to break the resistance brand again, with the price currently increasing by over 1%.
ada price view
The ADA/USD 4-hour chart becomes freezing after the cryptocurrency declined a few hours ago. The ADA price has increased by 1% in the last 24 hours and is currently traded at $ 1.28 per coin after falling to USD 1.25 yesterday.
In his current state, Ada could continue and probably outperform the 24-hour high of USD 1.32. In the event of a longer rally, which is heated by the wider cryptocurrency market, ADA could try to break the main resistance brand at 1.42 USD after it failed twice last week.
ada/USD 4-hour chart. Source: Coinlyze
If there is no extensive market clock, the 30-day high of USD 1.499 should limit the further upward movement. However, the bears have not completely given up control over the market, as the slight correction shows in the last few hours.
If ADA does not succeed in breaking the resistance brand of $ 1.42, it could correct it down and fall back towards the $ 1.30 mark. However, the 100-4-hour simple moving average at 1.21 USD should limit any further potential downward movement.
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Source: Coinlist.me
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