Cardano Eyes (ADA) Token E

ADA is token of the Cardano blockchain, created by Charles Hoskinson, one of the co-founders of Ethereum. Cardano aims offer a secure and scalable platform for smart contracts, decentralized applications and more. ADA is named after Ada Lovelace, a 19th-century mathematician known for her pioneering work in computing. Cardano token price started from consolidated round near the $1.00 zone. ADA is holding gains and might aim for fresh increase above $1.50.

  • ADA price started fresh increase with the $0.9100 zone.
  • The price is trading above $0.950 and the 100-hourly simple moving average.
  • There is key bearish trend line forming with resistance at $1.020 on the hourly chart of the ADA/USD pair.


In the past few days, Cardano token saw a fresh increase above the $0.950 resistance. ADA remained in a positive zone like Bitcoin and Ethereum . There was a move above the $0.980 and $0.9950 resistance levels. Cardano plans to enable interoperability between blockchains and has governance features allowing ADA holders to vote on protocol changes.

The price surpassed way to the 40% Fib retracement level of the downward move from the $1.150 swing high to the $0.8696 low. It even cleared the $1.00 level. However, the bears are now active near to  the $1.050 zone. There is also key bearish trend line forming with resistance at $1.020 on the hourly chart of the ADA/USD pair. Cardano plans to enable interoperability between blockchains and has governance features allowing ADA holders to vote on protocol changes.

The trend line is close to the 61.8% Fib retracement level of the downward move from the $1.150 swing high to the $0.8696 low. Cardano token price is now trading above $0.950 and the 50-hourly simple moving average.On the upside, the price might face resistance near the $1.020 zone. The first resistance is near $1.050. The next key resistance might be $1.0840. If there is a close above the $1.0840 resistance, the price could start a strong rally. In the stated case, the price could rise toward the $1.1500 region. Any more gains might call for a move toward $1.20. If Cardano’s price fails to climb above the $1.050 resistance level, it could start another decline. Immediate support on the downside is near the $0.9650 level. The next big support is near the $0.9350 level.  Downside break below the $0.9350 level could open the doors for test of $0.880. The next major support is near the $0.8450 level where the bulls might emerge. Cardano has partnerships with organizations like the Ethiopian government and works on real-world use cases in supply chains and many more. 


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