The chart for Cardano (ADA) on the 4-hour timeframe shows a strong bullish move, reaching a peak around 0.9200 before pulling back. The price has created higher highs and higher lows, indicating a bullish trend. Currently, the key resistance level is at 0.9200, with support levels around 0.8600 and 0.8400. If the price manages to break above the resistance at 0.9200, the next target could be around 1.0000, as shown in the chart. However, if the price fails to break through and continues to pull back, it may retest the support levels at 0.8600 and 0.8400. The market appears to be in a consolidation phase, with a potential continuation of the upward trend if the resistance breaks.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.