Big Breakout Incoming for Cardano, Will ADA Price Go Beyond $1.33?

Cardano Price May surge high!

Cardano price recently attained the most awaited milestone by surging above $1 and was an inch close to smashing the previous ATH. Yet a major crash dragged the price again below $1, however, the price still appears to be poised to regain the lost positions.

The ADA price according to an analyst, TOP AIM STOCKS, is about to smash the upper resistance levels shortly.

As per the chart posted by the analyst, the ADA price is trending within an ascending triangle since the price hit $1.The price touched the lower resistance levels multiple times, yet failed to break the levels and hence discarded the bearish divergence.

The price appears to have consolidated from the past several days, and hence a big breakout appears to be imminent.

Also Read:  Cardano, Polkadot Enter the Top 5 Driving XRP to 7th Place

ADA price analysis

The ADA price began trading the previous trading day with a massive plunge that dragged the price from around $1.129 to as low as $0.8076. However, the price regained the bullish momentum and closed the daily trade very close to $1. 

ADA price

The current day trading initiated with a surge coiling the price above $1 yet again hitting $1.1 in a small time frame. However, a massive selling haunted the crypto space and shed the profits by nearly 30%. The price plunged close to $0.8 and at the time of writing, the Cardano price is $0.9239 with a massive drop of 9.39 percent in the last 24 hours.

Technical Specifications

  • The resistance levels are formed at the yearly highs above $1 at $1.14
  • The support levels are formed at $0.8124
  • The indicators for the Cardano price points out towards a ‘buy’ signal

Also Read: Cardano(ADA) Price Seems to Form a Bull Flag, Will Make It or Break It?

Source: Read Full Article