- Cardano is trading today between the 50% Fib level and 23.60% Fib level
- The ADA coin is attempting to trade above $0.038, for which, it needs to trade above the 23.60% Fib level
- Technicals may soon enter the bullish zone if the uptrend remains intact
Cardano (ADA) has shown an improvement in its price trend yesterday, while today, the coin is hustling to sustain the uptrend. Bitcoin, on the other hand, is also carrying a mild uptrend.
Cardano Faces Key Resistance at $0.03888
ADA coin opened yesterday above $0.037, and it took an initial price drop near $0.036 before taking a price leap. Seeing a support level at $0.0369, Cardano price gradually rose and formed higher highs above $0.037. The coin managed to reach above $0.038 for once and then pulled back.
After the pullback, ADA price is trading between 50% and 23.60% Fib levels. Currently, the coin is moving up, and a steady price rise above 0% Fib level can intrigue a bull-run. Amid volatility, Cardano is trading at $0.0376 at 04:57:52 UTC.
The short-term SMA line is already above the long-term SMA line, which indicates a current positive sign. However, a possible death-cross is likely to change the sentiment. Bollinger bands are moving apart showing a volatile phase.
The MACD chart is likely to enter the bullish zone with its MACD line on the upside. According to Cardano prediction, the ADA coin may face resistance at $0.03888, $0.03996, and $0.04095 and support levels at $0.03681, $0.03582, and $0.03474.
