Cardano (ADA) Analysis: Can ADA succeed in breaking through 1 dollar definitively?

It has been a while since we have looked closely at the course of Cardano (ADA). But Ada is actually doing very good things. After a bottom at the beginning of last month of almost $ 0.50, the race is now explicitly correct on the door at the border of 1 dollar.

Ada Koers is preparing for attack on 1 dollar

First the long -term plate. The daily graph of Ada shows that the race broke from a long -term downward channel last month. This was followed by a clear higher top around $ 0.90 and a successful retest of the top of that channel – visible as the blue arch on the graph.

Since that moment, the rate has risen by more than 30 percent to the current level of around $ 0.92. Last Thursday Ada even briefly ticked the limit of 1 dollar. In the longer term, the price still seems on its way to the top of the range around $ 1.13, which applies as the next target price.

Ada Koers consolidates around $ 0.90

Yet there are still obstacles on the road. A convincing breakthrough of the psychological limit of 1 dollar is by no means certain. For the time being, the course seems to consolidate just above $ 0.90, as is clearly visible on the hour graph of ADA below.

We now want to see a breakthrough of the diagonal resistance line and to break the level of 1 dollar, and of course a successful test as a support of this zone. The zone around 0.90 cents is a clear support level. A breakthrough below could lead to a price fall to the zone around $ 0.80.

Prevention: price target 1.13 dollars

Ultimately, it is important that we see clear confirmations on higher Timeframes such as the daily graph and even the weekly graph. The course can fluctuate considerably on the hour graph and this can cause distraction. The picture is generally fairly clear: as long as the course remains above the $ 0.90 zone, a new attack on 1 dollar is the scenario that we take into account. In the long term, the top of the range is the target around $ 1.13.