Cardano (ADA) Price Analysis: Gaining Momentum, Could Break $0.112
Cardano price remained well bid above the $0.0980 support zone and it climbed higher against the US Dollar. The ADA/USD pair formed a support base above $0.1000 and recently traded above $0.1020.
There was a break above the 50% Fib retracement level of the recent decline from the $0.1082 high to $0.0986 swing low. Moreover, there was a break above a major bearish trend line with resistance near $0.1050 on the 4-hours chart.
(https://cdn.shortpixel.ai/client/q_glossy,ret_img,w_1100,h_522/https://www.livebitcoinnews.com/https://s3.amazonaws.com/lbn-s3/2020/11/Cardano-Price-2-1100x522.png)
The chart indicates that ADA price is showing positive signs above the $0.1050 support and the 55 SMA. Overall, the price is likely to continue higher above the $0.1100 and $0.1120 resistance levels in the near term.
Learn more about the analysis here. (https://www.livebitcoinnews.com/cardano-ada-price-analysis-gaining-momentum-could-break-0-112/)