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Cardano Rises, But Keeps Struggling With The Hurdle
By: bitcoin ethereum news|2025/05/09 23:00:11
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The price of Cardano (ADA) is rising above the moving average lines after being held by them. Cardano price long-term forecast: bullish Over the past two weeks, there has been a price war between bulls and bears as the price of cryptocurrencies rises above the moving average lines. The ADA price has risen to a high of $0.72, indicating that the bulls are in control. Positive momentum is expected to peak at $0.75. Cardano will reach a high of $0.83 and then $1.02 if it breaks above the $0.75 barrier. The altcoin will be forced to move above the moving average lines and below the $0.75 high if the upside momentum is rejected. The price of ADA is rising at the same time, reaching a high of $0.790. Cardano indicator analysis Long candlestick wicks pointing towards the $0.75 barrier determine the price of ADA. At the recent high, this indicates significant selling pressure.Following the uptrend’s halt on April 24, the moving average lines are horizontal. Technical Indicators Key Resistance Zones: $1.20, $1.30, and $1.40 Key Support Zones: $0.90, $0.80, and $0.70 What is the next move for Cardano? Cardano is currently trading in the positive trend zone due to the possibility of additional upward movement. For the time being, the rising momentum has stopped around $0.72. The altcoin will continue to rise as long as the price bars remain above the moving average lines. Nevertheless, the altcoin has been returning to its prior price trend after striking the first resistance level at $0.73. Disclaimer. This analysis and forecast are the personal opinions of the author. They are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol.com. Readers should do their research before investing in funds. Source: https://coinidol.com/cardano-keeps-struggling/
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