Since the Cardano price reverses the trend every time, the price also rebounded successfully this time. After multiple bottoms formed at these levels, the price rose above the levels itself. The steady upward trend from now on could intensify the activity and thus increase the volatility of the ADA price.
The asset saw a significant uptrend for a few days after a massive sell-off. Due to mounting pressure to sell, it was assumed that the price would soon break the $ 1 mark. But the upward trend from the later trading hours created a bullish momentum. Currently, the price has formed a “W-shaped” pattern and has also broken the neckline at $ 1.125.
Also Read: Bitcoin Price Could Still Reach $ 100,000 But $ 25,000 Is Imminent Right Now!
The next plot for ADA price could continue on an uptrend until it hits the immediate resistance levels at $ 1.19. There has been a significant increase in the purchase volume and thus these levels could be achieved with minimal effort. The biggest challenge, however, is getting to the next strong resistance level around $ 1.436. There are some levels in between, but levels above $ 1.4 could confirm a notable uptrend.
The crypto space has eased with accumulated sell-offs as a decent rebound has arrived. If Bitcoin price rises above $ 30,000 it could be a rebound, but an uptrend may be valid after the price is held above $ 35,000. In a similar pattern, Cardano price has to crack and hold above $ 1.5 as well.