• Cardano (ADA) price is recovering higher above $0.25 against the US Dollar.
• There is a key bearish trend line forming with resistance near $0.278 on the 4-hour chart.
• The price could gain bullish momentum if it clears the $0.278 and $0.300 levels.
Cardano (ADA) Price Analysis
Cardano price is recovering higher above $0.25 against the US Dollar, similar to Bitcoin. ADA price could gain bullish momentum if it clears the $0.278 resistance.
Key Resistance Level
On the upside, immediate resistance is near the $0.278 zone. There is also a key bearish trend line forming with resistance near $0.278 on the 4-hour chart.
Bullish Momentum
The next major resistance is near the $0.300 level or the 50% Fib retracement level of the downward move from the $0.3820 swing high to the $0.2300 low.
Support Levels
On the downside, immediate support is near the $0