Cardano (ADA) is making positive moves to previous highs. The crypto fell to the previous low at $1.01 and recovered above the current support. The altcoin rallied to $1.24 and back up after a pullback.
By all appearances, it is likely that ADA will retest the high of $1.40. On the upside, if the bullish momentum extends above $1.60 high, ADA will be in the bullish trend zone.
ADA/USD will be out of the downward correction. It is likely that Cardano will resume an upward momentum. However, the upside move is likely to face rejection at the $1.40 high. In previous price action, ADA was range-bound below resistance at $1.40 before it was breached. ADA /USD is trading at $1.275 at the time of writing.
More information: please click here