Cardano in Range-Bound Move, Unable to Push above $1.80 Overhead Resistance

[Rockalo]

Cardano's (ADA) price rebounds above $1.40 support as prices rallied to $1.60 high. The uptrend is confirmed as ADA retested the $1.40 support before the upward move. The bullish momentum broke above the moving averages as the price reached the previous highs.

ADA will continue to rise as long as the price bars are above the moving averages. Presently, the market is retracing and has tested the 21-day SMA. On the upside, if the price breaks above $1.60, the market will rise to retest $1.80 overhead resistance. Unfortunately, buyers are yet to breach the $1.80 resistance since May 19. For the past month, ADA has been in a range-bound move between $1.35 and $1.80. ADA is trading at $1.56 at the time of writing. More information: Please click here