Cardano Continues Its Rise as It Attempts to Surpass the $0.67 Peak

Cardano (ADA) Price Long-Term Forecast: Bullish
Cardano’s (ADA) price is recovering after breaking above the moving average lines as it attempts to surpass the $0.67 peak. The positive momentum has persisted since February 9. Buyers are hoping to push the altcoin towards its previous high of $0.67. The crypto asset has reached a high of $0.62 as of this writing. On the upside, if buyers break through the barrier at $0.67, the market will achieve a high of $0.75.

However, if the cryptocurrency’s price remains caught at the resistance level of $0.67, the altcoin will be forced to trade sideways. ADA/USD will trade above the moving average lines but below the resistance level at $0.67.

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 price bars for ADA are above the moving average lines as the altcoin continues to soar. The price bars were previously caught between the moving average lines. The altcoin will continue to increase while in the bullish trend zone. Cardano’s price resurgence has resulted in a bullish crossing. The 21-day SMA crosses above the 50-day SMA, indicating that traders may place bullish orders.

What Is the Next Move for Cardano (ADA)?
On the 4-hour chart, the ADA/USD is in an uptrend as it attempts to surpass the $0.67 peak. The cryptocurrency price has been making a series of higher highs and higher lows. The current upswing has ended after reaching a high of $0.639 on February 18. For the past 24 hours, the altcoin has fluctuated below its recent high. Nonetheless, the crypto signal is favorable, as the altcoin is predicted to continue rising.

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