Cardano Price Surges Above $1.20, Drops Below- Latest Update

Cardano (ADA) has been making a comeback in the market after hitting a low point and getting stuck at $1.20. But fear not, the cryptocurrency is on the rise and aiming for that sweet peak price of $3.00.

The recent setback saw ADA dropping below the 21-day SMA, but the bulls swooped in to buy the dip and push the price back above the support level. If this trend continues, we could see Cardano challenging the $1.20 resistance level and potentially even reaching $1.60 in the near future.

Currently, Cardano is valued at $1.14, trading above the 21-day SMA but below that crucial $1.20 mark. The moving average lines are looking promising, indicating a possible upward trend. But buyers need to keep up the momentum to avoid trading in a narrow range.

In terms of key zones, we’re looking at resistance levels of $1.20, $1.30, and $1.40, with support zones at $0.90, $0.80, and $0.70. This gives us a good sense of where Cardano could be headed next.

Taking a closer look at the 4-hour chart, Cardano is currently hovering above the $0.90 support and below the $1.20 resistance. The recent bump at $1.20 slowed things down, but we expect the altcoin to continue fluctuating within this range until it makes its next move.

Just a friendly reminder, this analysis is based on personal opinions and should not be taken as financial advice. Always do your own research before diving into the world of cryptocurrency investing.