Cardano’s Bullish Ascent Halts below the $0.80 Mark

Cardano (ADA) Price Long-Term Forecast: Bullish
Cardano (ADA) has been trading sideways since the bullish ascent halted below the $0.80 mark. Since December 14, the altcoin’s price has fluctuated between $0.49 and $0.68. On March 1, the bulls broke through the resistance at $0.68 and rallied to a high of $0.79. The upward trend is being stifled at the $0.80 resistance level. The bulls have not yet broken through the recent high in the last 48 hours.

On the upside, if the current resistance is broken, the ADA price will rise to $0.90. On the other hand, the cryptocurrency will continue to move sideways, above the moving average lines but below the barrier at $0.80. Meanwhile, the altcoin is trading at $0.77 at the moment.

Technical Indicators:
Major supply zones: $1.0, $1.05, $1.10
Major demand zones: $0.25, $0.20, $0.15

Cardano (ADA) Indicator Analysis
The altcoin has been trading sideways below the moving average lines. On February 8, the cryptocurrency rebounded above the moving average lines. The ADA price is rising as the price bars return above the moving average lines. In addition, the price action is characterized by small body uncertain candlesticks known as Doji.


What Is the Next Move for Cardano (ADA)?
Cardano price breaks above resistance at $0.68 but the bullish ascent halts below the $0.80 mark. On the 4-hour chart, the altcoin has reached its recent high. It’s wavering below the $0.80 resistance level. The crypto signal will be positive if the bulls break the resistance at $0.80. Meanwhile, the altcoin is trading below its previous high.

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