On the 4-hour chart, Cardano is currently trading within a Bullish Flag Pattern on the 4-hour chart.
As per Coingabbar Price Analysis, ADA is gaining momentum above the $0.60 resistance level.
A clear move above the resistance levels at $0.685 and $0.700 could trigger a further rally in Cardano's price.
The occurrence of a golden cross is seen as a positive sign, assuring investors of an uptrend gaining traction and minimizing the chances of Cardano rolling back its gains.
Leading altcoins, including Cardano, are experiencing increased buying interest, resulting in Cardano reaching its highest level in 18 months.
According to Fibonacci retracement levels, Cardano's price is in the early stages of recovery.
A potential breakout above the 23.6% Fibonacci retracement level is anticipated, closing the gap to $1.
This breakout could set up a structural framework for ADA's price to approach the 61.8% Fibonacci level at $2.
KEY LEVELS :
RESISTANCE LEVEL : $0.6550-$0.6800
SUPPORT LEVEL : $0.6250-$0.6100
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