Can Bulls Hold Above $0.70?
The post Can Bulls Hold Above $0.70? appeared on BitcoinEthereumNews.com. Cardano price today is trading near $0.71, after a strong rally that saw ADA break above the critical $0.70 resistance. This move marks a decisive shift in momentum after testing lower levels earlier in the week. As the Cardano price action enters an important phase, traders are eyeing the next key levels to determine whether this rally can extend or if a pullback is imminent. Let’s dive into the Cardano price update, technical levels, and the short-term outlook for May 9. Key Levels for Cardano (ADA) ADA price dynamics (Source: TradingView) The Cardano price has gained momentum above the $0.70 level, but several important support and resistance zones need attention: Support Levels: $0.68: This level has served as a key support zone in the recent past. A dip below this could signal a pullback to lower levels. $0.67: A more significant support area that could act as a reliable base for buyers if Cardano sees a retracement. Resistance Levels: $0.72: ADA is now testing this resistance. If the price holds above this level, it could signal a stronger move toward the next upside target at $0.73. $0.75: This level remains a crucial upside target if the bullish trend continues. Cardano Price Action and Technical Analysis The Cardano price action over the past week shows clear bullish potential as ADA has rallied above key resistance levels. After consolidating near $0.64–$0.66, ADA broke through the $0.70 resistance zone, marking a strong buying signal. Cardano Price: Fibonacci Analysis ADA price dynamics (Source: TradingView) On the weekly chart, Cardano price is retesting the 0.5 Fibonacci retracement level at $0.70 after a strong push from lower levels. A clean break above $0.72 would open up the path to the next Fibonacci extension zone at $0.75. The price could continue higher if bulls can maintain control…
The post Can Bulls Hold Above $0.70? appeared on BitcoinEthereumNews.com.
Cardano price today is trading near $0.71, after a strong rally that saw ADA break above the critical $0.70 resistance. This move marks a decisive shift in momentum after testing lower levels earlier in the week. As the Cardano price action enters an important phase, traders are eyeing the next key levels to determine whether this rally can extend or if a pullback is imminent. Let’s dive into the Cardano price update, technical levels, and the short-term outlook for May 9. Key Levels for Cardano (ADA) ADA price dynamics (Source: TradingView) The Cardano price has gained momentum above the $0.70 level, but several important support and resistance zones need attention: Support Levels: $0.68: This level has served as a key support zone in the recent past. A dip below this could signal a pullback to lower levels. $0.67: A more significant support area that could act as a reliable base for buyers if Cardano sees a retracement. Resistance Levels: $0.72: ADA is now testing this resistance. If the price holds above this level, it could signal a stronger move toward the next upside target at $0.73. $0.75: This level remains a crucial upside target if the bullish trend continues. Cardano Price Action and Technical Analysis The Cardano price action over the past week shows clear bullish potential as ADA has rallied above key resistance levels. After consolidating near $0.64–$0.66, ADA broke through the $0.70 resistance zone, marking a strong buying signal. Cardano Price: Fibonacci Analysis ADA price dynamics (Source: TradingView) On the weekly chart, Cardano price is retesting the 0.5 Fibonacci retracement level at $0.70 after a strong push from lower levels. A clean break above $0.72 would open up the path to the next Fibonacci extension zone at $0.75. The price could continue higher if bulls can maintain control…
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