Oh, what a jolly good show! Cardano has decided to take a leap above the $0.70 mark, and lo and behold, it’s up a whopping 60%! Now it’s playing a little game of hide and seek around the $1.050 support zone. How cheeky! 🎉
- ADA has kicked off a fresh adventure, soaring past the $0.70 and $0.90 levels like a rocket! 💥
- It’s now prancing above $1.00, dancing with the 100-hourly simple moving average like it’s at a fancy ball! 💃
- Oh, and look! A short-term contracting triangle is forming, with a rather grumpy resistance at $1.1450 on the hourly chart of the ADA/USD pair (thanks, Kraken!).
- If it can wiggle past the $1.150 resistance zone, we might just see another delightful increase! 🎈
Cardano’s Price Takes Off Like a Bat Out of Hell!
After a rather gloomy decline, Cardano found a cozy little spot near the $0.580 zone. It formed a sturdy base and, with a little nudge from Trump’s crypto reserve announcement, it’s off to the races! Over 60% up, leaving Bitcoin and Ethereum in the dust! 🏎️💨
With a mighty push, it soared above the $0.70 and $0.90 levels. The bulls were on fire, pumping the price above the $1.0 resistance like it was a balloon at a birthday party! 🎈 A high was reached at $1.1577, and now it’s taking a breather, consolidating its gains. But wait! A tiny dip below the $1.10 level? How scandalous!
The price had a little chat with the 23.6% Fib retracement level of the upward move from the $0.6446 swing low to the $1.1577 high. Now it’s lounging above $1.00 and the 100-hourly simple moving average, feeling quite pleased with itself.
On the upside, it might face a bit of a grumpy resistance near the $1.10 zone. The first hurdle is at $1.1450, and there’s that pesky contracting triangle again! The next big boss might just be $1.150. 🎮
If it manages to close above the $1.150 resistance, we could be in for a wild ride towards the $1.220 region! And who knows? Maybe even a jaunt to $1.250 in the near future! 🎢
Will ADA Take a Tumble? 🤔
But hold your horses! If Cardano can’t muster the strength to climb above the $1.150 resistance, it might just start another descent. Immediate support is lurking around the $1.040 level, waiting to catch it if it falls.
The next major support is at the $1.00 level. If it tumbles below that, we might just see it testing the $0.90 mark. And if it gets really cheeky, the $0.80 level might just be where the bulls come charging in! 🐂
Technical Indicators
Hourly MACD – The MACD for ADA/USD is gaining momentum in the bullish zone, feeling quite sprightly!
Hourly RSI (Relative Strength Index) – The RSI for ADA/USD is now above the 50 level, strutting its stuff!
Major Support Levels – $1.0400 and $1.000, just in case things get a bit wobbly.
Major Resistance Levels – $1.1000 and $1.1500, the pesky hurdles to jump over!
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2025-03-03 08:12