Cardano Price Prediction, The Challenge of New Annual Highs
- ADA encounters resistance from the 200-day EMA on the weekly chart.
- A daily chart reveals a 100 and 200 Day Crossover, driving a 40% price surge.
Cardano breaks Bullish Pennant, poised to breach $0.6800 level.
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According to Coingabbar Price Analysis, Cardano maintains support at $0.5500, gearing up for a potential new high.
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After hitting $0.6500 on December 14th, ADA consolidated within a range.
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On the daily chart, ADA finds support at the 21-day moving average.
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ADA breaches the Bullish Pennant Pattern on the daily chart, trading above $0.6500.
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Despite a surge, ADA struggles to surpass the previous high of $0.6800 from December 14th.
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Potential bullish scenario: If ADA breaches $0.6800, the price may test $0.7300-$0.9000.
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ADA's ability to hold the $0.6300 level and pennant support could signal a forthcoming rally.
KEY LEVELS :
RESISTANCE LEVEL : $0.6800-$0.7400
SUPPORT LEVEL : $0.6200-$0.5800
Disclaimer: Crypto is not regulated and can offer considerable risks. There may be no regulatory remedies available in the event of any losses resulting from price analysis. As a result, before engaging in any transactions involving crypto products, each investor must perform in-depth examination or seek independent advice.
